A principal may designate someone to do all acts that can be legally delegated to an agent. That agent is called a general agent
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following statements is true of a laboratory experiment?
A) It takes place in a realistic environment. B) It has low internal validity. C) The experimenter cannot control the environment easily. D) It has low external validity.
An advantage of distributed data processing is that individual end user groups set specific IT standards without concern for the broader corporate needs
Indicate whether the statement is true or false
Grace Corporation issued 60,000 shares of $5 par value common stock for $600,000. The journal entry to record the transaction is:
A) Cash 600,000 Common Stock 600,000 B) Cash 300,000 Common Stock 300,000 C) Cash 600,000 Common Stock 300,000Additional Paid-In Capital 300,000 D) Cash 300,000 Additional Paid-In Capital 300,000
An adjusting entry would adjust revenue so it is reported when earned and not when cash is received
Indicate whether the statement is true or false