On the balance sheet, total assets must always equal the sum of total liabilities and equity.
Answer the following statement true (T) or false (F)
True
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An audit must be performed by persons who can make sound judgments relating to complex accounting issues
a. True b. False Indicate whether the statement is true or false
Use the following information to prepare a budgeted income statement for Stellar Company for the month of June.a. Beginning cash balance on June 1 is $52,000.b. Sales amounts are: April (actual), $1,450,000, May (actual), $1,600,000, and June (budgeted), $1,700,000.c. Cost of goods sold is 53% of sales.d. Budgeted cash payments for salaries in June: $260,000. Salaries payable on May 31 are $60,000 and are expected to be $50,000 on June 30.e. Budgeted depreciation expense for June: $24,000.f. Other cash expenses budgeted for June: $282,000.g. Accrued income taxes due in June: $48,000.h. Bank loan interest due in June: $8,000 which represents the 1% monthly expense on a bank loan of $800,000.i. The income tax rate applicable to the company is 30%.
What will be an ideal response?
According to the Montreal Convention, which of the following is a requirement for the air carrier's liability for death or bodily injury?
a. The injury occurred after take-off and before landing. b. The plaintiff's country of residence signed the Convention. c. The injury occurred on board the aircraft or while embarking or disembarking. d. Both a and b
One provision of the Dodd-Frank Act was creation of the Financial Stability Oversight Council
This council is charged with identifying nonbank financial companies that could increase the risk of collapse of the entire financial system. This risk is called A) market risk. B) systemic risk. C) diversifiable risk. D) enterprise risk.