As a societal characteristic, ______ refers to the tendency to view each person as independent of others and to be more concerned about the consequences of a person’s actions for that person alone.
A. individualism
B. axioms
C. differing
D. average
A. individualism
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Liabilities have which of the following two major categories?
A) Accounts payable and notes payable B) Contributed capital and retained earnings C) Current and long term D) Unearned revenues and other payables
Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $11,100 of common stock for cash. 2) The company paid cash to purchase $6900 of inventory. 3) The company sold inventory that cost $4300 for $8400 cash. 4) Operating expenses incurred and paid during the year, $3800. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $9400 of inventory. 2) The company sold inventory that cost $8500 for $15,000 cash. 3) Operating expenses incurred and paid during the year, $4800. Note: Sanchez uses the perpetual inventory system.What is Sanchez's gross margin for Year 2?
A. $5600 B. $1700 C. $6500 D. $8500
When an employee files a worker's compensation claim:
a. The employee must prove the company was negligent. b. The employer has the right to raise traditional defenses to negligence to defeat the claim. c. Both a. and b. d. Neither a. not b.
One of the advantages of the partnership form of organization is
a. ease of transferring a partnership interest. b. limited liability for partnership debts. c. ease of organization. d. ease of settling disputes among the partners.