The principal savers in the financial markets are
A) businesses.
B) banks.
C) individuals.
D) governments.
Answer: C
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All of the following statements regarding sales returns and allowances are true except:
A. New revenue recognition rules require sellers to report sales net of expected returns and allowances for annual periods. B. Sales returns and allowances estimates are typically made as period-end adjustments. C. When sales returns and allowances adjustments are made to sales, an estimate must also be made for the cost side. D. Sales Refund Payable is a current liability account. E. The Inventory Returns Estimated account is a current liability account.
Betty borrows $50,000 at 10 percent annually compounded interest to be repaid in four equal annual installments. The actual end of year loan payment is: (Round to the nearest whole dollar)
A) $10,774 B) $12,500 C) $14,340 D) $15,774
Under the RMBCA, if a quorum exists, a shareholder action such as the election of directors is approved if the votes cast for the action exceed the votes cast against it
Indicate whether the statement is true or false
The articles of incorporation are also known as the ________.
A. bylaws B. corporate charter C. registration statement D. petition for incorporation