Scenario statements typically include a fill-in-the-blank section, a complete script to be read verbatim by a spokesperson, and a list of agencies likely to respond during a specific type of crisis
Indicate whether the statement is true or false
TRUE
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One effect on the accounting equation when a firm lends money is
a. stockholders' equity decreases. b. liabilities decrease. c. liabilities increase. d. total assets remain the same.
The cash account is affected by all of the entity's business processes.
Answer the following statement true (T) or false (F)
Sometimes a value is assigned to the shares in the articles of incorporation. This arbitrary amount is known as projected value.
Answer the following statement true (T) or false (F)
Vera gives Willy a $459 check as payment for a debt. Willy crudely raises the amount of the check to $5,000 and transfers it to Xtreem Sportz store for a new bike. Xtreem deposits the check in its Yankee Bank account. Vera is liable for the payment of $5,000 to
A. no one. B. Willy, Xtreem Sportz, and Yankee Bank. C. Willy only. D. Xtreem Sportz and Yankee Bank only.