For financial reporting purposes, cash generally includes currency and other items that are payable on demand, such as checks, money orders, bank drafts, and certain savings accounts.
Answer the following statement true (T) or false (F)
True
For financial reporting purposes, cash generally includes currency and other items that are payable on demand, such as checks, money orders, bank drafts, and certain savings accounts. Savings accounts that impose substantial penalties for early withdrawal should be classified as investments rather than cash.
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A list of all accounts and their balances which is used to prove the equality of debits and credits as of a specific date is a(an)
a. Account b. General Journal c. Trial Balance d. Chart of Accounts
Various laws and contracts govern the rights and obligations of a shareholder. Which of the following is/are not true?
a. The corporation laws of the jurisdiction in which incorporation takes place govern the rights and obligations of a shareholder. b. The articles of incorporation or the corporate charter sets out the agreement between the firm and the jurisdiction in which the business incorporates. c. The board of directors adopts bylaws, which are the rules and regulations governing the internal affairs of the corporation. d. The U.S. Government grants to the firm the privileges of operating as a corporation for certain stated purposes and of obtaining its capital through the issue of shares of stock. e. none of the above
One of the eight primary marketing-related reasons for new-product failure is ________.
A. product was marketed as a new product but it did not meet the legal definition of new B. a competitor with a similar product withdrew from the market C. too socially controversial D. the product is too innovative E. poor product quality
The U.S. Constitution has one indirect and three direct sources of law
Indicate whether the statement is true or false