The terms paralegal and legal assistant should not be used interchangeably as positions and skills required are very different
Indicate whether the statement is true or false
FALSE
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Which of the following is reported as a financing activity?
a. Declaration of dividends b. Sale of preferred stock c. Conversion of preferred stock to common stock d. Stock split
Sellers generally prefer to receive notes receivable rather than accounts receivable when the credit period is long and the receivable is for a large amount.
Answer the following statement true (T) or false (F)
A company had a beginning balance in retained earnings of $420,000. It had net income of $60,000 and paid out cash dividends of $65,000 in the current period. The ending balance in retained earnings equals:
A. $415,000. B. $485,000. C. $360,000. D. $545,000. E. $425,000.
Actual manufacturing overhead costs are credited to the Manufacturing Overhead account
Indicate whether the statement is true or false