Who is responsible for the preparation and integrity of financial statements?
a. A cost accountant
b. Management
c. An auditor
d. A bookkeeper
e. The FASB
B
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If an offeree dispatches both an acceptance and a rejection to an offer, ________.
A. both the acceptance and the rejection are not effective and another response must be issued B. whichever response reaches the offeror first will determine whether a contract is created C. the acceptance is effective as soon as it is dispatched and a contract is created D. the rejection is effective as soon as it is dispatched and no contract can be created
Which of the following items will not be disclosed on a statement of stockholders' equity?
a. Net income b. Issuance of common stock for cash c. Extraordinary gains and losses d. Issuance of common stock in exchange for noncash assets
A debtor's promise to pay must be in writing to be enforceable
Indicate whether the statement is true or false
Which of the following is not an example of an advantage to using the web to access organizational databases?
A. It is cleaner and virus-free. B. Web browsers are much easier to use than a computer based database. C. It costs less. D. The web interface requires few or no changes to the database model.