According to Peter Drucker, the purpose of a business must lie in ________
A) managing power
B) increasing control
C) maximizing share value
D) supporting society
D
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Use the following descriptive phrases to determine the account name that would be used for each. In addition, classify the account as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E)
a. Amount due to creditor for merchandise purchased b. Coins and currency c. Property to be used in the business d. An amount paid to stockholders resulting from profits e. Income recorded for performance of legal services f. Amount due to bank for loan to purchase building g. Stationery, pencils, etc., purchased but not yet used h. Stationery, pencils, etc., that have been consumed (used) i. An insurance premium paid covering the next two years j. Representation of stockholders' investments in a business
Physical destruction of a will is revocation of that will
Indicate whether the statement is true or false
Which entry would be the correct entry on the donor's books when the donor relinquishes control of an asset, such as cash, which it contributes to a not-for-profit entity? DEBITCREDITA.Expense-charitable contributionCashB.Refundable advance to charityCashC.Charitable pledgeCashD.CashLiability to beneficiaryE.CashRefundable advance
A. Option E. B. Option A. C. Option D. D. Option C. E. Option B.
Nonresponse error occurs when someone was not selected to participate in the survey
Indicate whether the statement is true or false