In 1996, forty percent of the students at a major university were Business majors, 35% were Engineering majors and the rest of the students were majoring in other fields. In a random sample of 600 students from the same university taken in 1997, 200
were Business majors, 220 were Engineering majors, and the remaining students in the sample were majoring in other fields. At a 5% significance level, test to see if there has been a significant change in the proportions between 1996 and 1997.
Chi-square = 13.15 > 5.99; thus, reject H0and conclude there has been a significant change.
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Which of the following is a franchisor problem?
A. Attempts to require adherence to prices set by the franchisor may violate the Sherman Act. B. Insurance cannot be used to cover risks due to torts committed by the franchisee. C. The franchisee has to be made an employee of the franchisor. D. Attempts to require franchisees to buy products exclusively from the franchisor may violate the Sherman Act.
Prepare a April 30 balance sheet in proper form for Two Rivers Vending Service from the following alphabetical list of the accounts at April 30: Accounts receivable……………………….$10,000Accounts payable…………………………..18,000Building……………………………………....28,000Cash………………………….……………....10,000Common Stock……………...……………..20,000Notes payable……………………………….47,000Office equipment……………...……………..12,000Retained earnings…………………………….?Trucks………………………………………..55,000
What will be an ideal response?
Organizations will not invest in making a product or providing a service unless it will provide a minimum return
Indicate whether the statement is true or false
The adjusting entry to record the salaries earned due to employees for services provided but unpaid at the end of the accounting period affects the accounts in which of the following ways?
A. Debit Accrued Salaries and credit Salaries Payable. B. Debit Salaries Payable and credit Salaries Expense. C. Debit Salaries Expense and credit Cash. D. Debit Salaries Expense and credit Salaries Payable. E. Debit Cash and credit Salaries Expense.