Which of the following is included in the formalities of forming a corporation?
a. Corporation
b. Creating a corporation by Estoppel
c. Selection of a name
d. Corporation
c
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Which one of the following adjustments increases net income for the period?
a. Recognition of the amount of supplies used b. Recognition of interest on a note receivable c. Recognition of wages earned, but not paid to employees d. Recognition of rent costs that had been paid to the landlord in advance
A petty cash fund was established with a $250 balance. It currently has cash of $38 and petty cash tickets totaling $212 for travel expense. Provide the journal entry to record the replenishment of the fund
What will be an ideal response
When preparing the statement of cash flows using the indirect method, depreciation expense is subtracted from net income under operating activities
Indicate whether the statement is true or false
Consider the TVM equation: the variable "r" may be defined as the discount rate or the growth rate depending upon how the equation is being used
What will be an ideal response?