Which of the following best describes why the left and right sides of a balance sheet are equal?
A) In a properly run business, the value of liabilities will not exceed the assets held by the company.
B) By definition, the assets plus the liabilities will be the same as the stockholders' equity.
C) The assets must equal liabilities plus stockholders' equity because stockholders' equity is the difference between the assets and the liabilities.
D) By accounting convention, the assets of a company must be equal to the liabilities of that company.
Answer: C
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Outplacement counseling programs are
A. university-sponsored executive training programs that require participants to live on campus while completing short, custom-designed courses. B. services in which professionals try to help dismissed employees manage the transition from one job to another. C. long-distance educational programs using instruction via video or audio tapes or computers provided by the company to augment employee skills. D. services rendered to employees to manage drug or alcohol addiction. E. third-party programs to assist employees with their mental health and chemical dependency needs.
Which element below is not one of the three stages of the organizational socialization model discussed in the textbook?
a. Anticipatory socialization b. Encounter phase c. Change and Acquisition phase d. Context phase
Cartier, an accountant, convinces his client Bianca to sign a contract to invest her savings in a nonexistent social-networking Web site. When Bianca learns the truth, she can
A. impose her own scam on Cartier without liability. B. induce Cartier to give her his other clients' funds without recourse. C. rescind the contract to invest in the Web site. D. sabotage Cartier's career in any way possible.
Dave's Hobby Town and Estelle's Yarn Shoppe are adjacent stores with adjoining parking lots. Dave offers Estelle a discount on purchases from Dave's store if Estelle will not tow the cars of Dave's customers who park in Estelle's lot.? Refer to Fact Pattern 12-1.Estelle's forbearance from towing is legally sufficient consid-eration A) because it is a promise of something of value
B) only if Dave's customers park in Estelle's lot. C) only if Estelle's customers cannot park in her lot because it is full. D) under no circumstances.