Which accounting term does not mean the same as the others?
A) Retained earnings
B) Net worth
C) Owner's capital
D) Owner's equity
A
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Answer the following statements true (T) or false (F)
1. The statement of retained earnings reports how the company's retained earnings balance changed from the beginning of the period to the end of the period. 2. A deficit occurs when a company has reoccurring losses and/or declares dividends in excess of retained earnings. 3. Most states prohibit corporations from paying a dividend if a deficit will occur. 4. A net loss for the year decreases the balance in Retained Earnings. 5. Errors are corrected by adjusting the beginning balance in the Retained Earnings account in the period the error is discovered.
________________ is defined as the characteristics that describe our thoughts, feelings, and behaviors.
a. Personality trait b. Self-concept c. Personality characteristic d. Differences
Bonds which carry the full faith and credit of a government are called revenue bonds.
Answer the following statement true (T) or false (F)
If the sales forecaster at Dex-Starr Inc—before launching a new 12-string guitar—decides to use the Delphi method to obtain a forecast, he/she should ________
A) note the behavior of the company's current customers while they purchase guitars from the current product line B) note the response of similar 12-string guitars to marketing campaigns and use the responses as a basis to predict how the new marketing campaign might fare C) mail out questionnaires to a panel of expert guitarists whose identities are known only to the forecaster D) use a brainstorming session among a group of metal guitarists to draw new ideas