Which of the following would properly balance the accounting equation?
a. Equal increase in retained earnings and accounts payable
b. Equal decrease in bonds payable and common stock
c. Equal increase in cash and accounts receivable
d. Equal decrease in accounts payable and cash
d
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A person with integrity is honest without compromise or corruption.
Answer the following statement true (T) or false (F)
Generally, a corner location is less valuable to a retailer in a shopping center than in an unplanned district
Indicate whether the statement is true or false
Sam Mueller and Geoffrey Robinson enter into a limited partnership in which Sam is the general partner and Geoffrey is the limited partner. They borrow $50,000 to start a business
Keeping all rules of naming their businesses in mind, they start a law firm named Robinson-Mueller Legal Associates. Martin Humphrey joins them after eleven months as a general partner but does not include his surname in the name of the business. If the business fails, which of the following is true? A) Only Sam, being the sole general partner is liable to the creditor. B) Martin has unlimited personal liability for not including his surname in the name of the business. C) Geoffrey is liable as a general partner as he included his surname in the business with full knowledge. D) All three partners are equally liable to the creditor, irrespective of including their surname in the title of the business.
Carol sells a downloadable product that uses bar codes to conduct comparison shopping. Carol’s product is an example of:
a. a tangible revenue model b. an intangible sale c. a data revenue model d. a licensing revenue model