Which of the following statements about social class is FALSE?
A. People with the same income level are always in the same social class.
B. People in different social classes tend to have different beliefs and feelings.
C. Variables such as occupation, education, and type of housing form the basis of simple approaches for measuring social class.
D. The U.S. class system is far less rigid than the class systems in most other countries.
Answer: A
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Which of the following variations of the accounting equation describes the preparation of the statement of cash flows?
A. Change in cash = Change in (Liabilities ? Stockholders' equity + Noncash assets) B. Change in cash = Change in (Liabilities + Stockholders' equity ? Noncash assets) C. Change in cash = Change in (Liabilities + Stockholders' equity + Noncash assets) D. Change in cash = Change in (Liabilities ? Stockholders' equity ? Noncash assets)
An example of a competency related to soft skills is calmly arriving at resolutions to conflicts
Indicate whether the statement is true or false.
Insufficient capacity will result in ______.
a. additional costs of idle resources b. poor service quality c. customer satisfaction d. higher response rate
Manhattan Company recorded an adjusting entry to accrue interest owed of $1300 as of December 31, Year 1. When the related note was paid during Year 2, the company paid $2450 in interest. Which of the following journal entries correctly records this Year 2 transaction? (Assume that the entry to record the payment of the note itself was recorded in a separate journal entry.)
A.
| Interest expense | 2450? | |
| Cash | 1300? | |
| Interest payable | 1150? |
B.
| Interest expense | 1150? | |
| Interest payable | 1300? | |
| Cash | 2450? |
C.
| Interest expense | 2450? | |
| Cash | 2450? |
D.
| Interest expense | 1150? | |
| Cash | 1150? |