The basic accounting identity that assets equal liabilities plus owners' equity usually, but not always, holds
Indicate whether the statement is true or false.
Answer: FALSE
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Corina almost always shops at Gas-N-Go. She finds the store easily accessible from the highway, likes the service, and receives special discounts as a frequent customer. Corina is less likely to shop around for her next purchase because Gas-N-Go satisfies Corina by:
A. maximizing Corina's solo exchange profit. B. reducing Corina's attitudinal loyalty. C. reducing its profit margin. D. producing a partnering relationship. E. reinforcing a functional relationship.
The purpose of an interperiod income tax allocation is to
a. allow reporting entities to fully utilize tax losses carried forward from a previous year. b. allow reporting entities whose tax liabilities vary significantly from year to year to smooth payments to taxing agencies. c. recognize an asset or liability for the tax consequences of temporary differences that exist at the balance sheet date. d. amortize the deferred tax liability shown on the balance sheet.
In a large bureaucracy with an overabundance of policies, managers are most likely to manage conflict with which strategy?
A. accommodating B. compromising C. avoiding D. problem-solving
Bart sends Carla an offer by express mail. Carla receives it at 10 a.m. on Tuesday. At 11 a.m. on Tuesday, Carla delivers an acceptance to Speedy Mail-to-You Express, Inc, but due to their error, the letter is not sent out by the company until Wednesday at 8 a.m. At what time does the law consider the acceptance to be effective?
a. At 10 a.m. on Tuesday. b. At 11 a.m. on Tuesday. c. At 8 a.m. on Wednesday. d. At the time Bart receives the letter.