Which balance sheet accounts are affected by operating activities?
A) current assets and current liabilities.
B) long-term assets.
C) long-term liabilities.
D) stockholders' equity.
A
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Which of the following is correct concerning suretyship and guaranty?
A) A surety is always liable from the moment the principal is in default. B) A guarantor is always liable from the moment the principal is in default. C) Both are undertakings by one person, for a consideration, to pay another person a sum of money in the event that the other person sustains a specified loss. D) Neither can be exonerated from liability.
The business judgment rule accomplishes all of the following EXCEPT
A. permits directors to do their jobs. B. keeps judges out of corporate management. C. encourages directors to serve. D. totally protects managers from all liability.
Which of the following describes an ERP system?
A. ERP systems enable people in different business areas to communicate. B. ERP systems have been widely adopted in large organizations to store critical knowledge used to make the decisions that drive the organization's performance. C. ERP systems provide a foundation for collaboration between departments. D. All of these.
List the elements that make up a transition description. Which elements are optional?