Which of the following is an example of a liability account?
A) Cash
B) Payroll Taxes Expense
C) Salaries and Wages Expense
D) FUTA Payable
D) FUTA Payable
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The limited liability company may elect to be manager managed rather than member managed which means that only authorized members may legally bind the corporation
a. True b. False Indicate whether the statement is true or false
When a person has been adjudicated insane, ________.
A. the contract is considered voidable if he or she entered a binding contract during a lucid moment B. the court says that such a person is not liable for any value of necessaries C. most states hold that the contracts of such persons are not voidable D. the court appoints a guardian or conservator for the person's estate
Cash larceny involves
a. stealing cash from an organization before it is recorded b. stealing cash from an organization after it has been recorded c. manufacturing false purchase orders, receiving reports, and invoices d. A clerk pays a vendor twice for the same products and cashes the reimbursement check issued by the vendor.
In a short essay, list and discuss the three major stages of the Total Responsibility Management system.
What will be an ideal response?