For each transaction recorded in an accounting system, the basic equation that must be maintained at all times is:
A. Assets = Liabilities.
B. Revenues = Expenses + Dividends.
C. Assets = Liabilities + Stockholders' Equity.
D. Cash Increases = Cash Decreases.
Answer: C
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Marty, a 16-year-old, contracted with Cream-of-the-Crop Cycles to buy an $8,000 motorcycle. He agreed to make monthly payments until the purchase price plus interest were paid in full. It is three years later and Marty has not disaffirmed the contract and has made regular payments on the cycle since turning 18 . Which of the following is correct?
a. The contract is void and Marty has no obligation. b. The contract is now voidable by Cream-of-the-Crop Cycles. c. Marty has ratified the contract and is now bound by its terms. d. Marty has ratified the contract but can still get a return of the payments made while he was a minor.
In a manufacturing arrangement, a franchisor transmits to a franchisee the essential ingredients or formula to make a particular product
Indicate whether the statement is true or false
Which of the following provides real-time information in response to requests?
A. Salary system B. Sales system C. Transactional system D. Real-time system
A sample of 30 items provided a sample mean of 28 and a sample standard deviation of 6 . Test the following hypotheses using ? = .05 . What is your conclusion? H0: ?2 ? 25 Ha: ?2 > 25