If a similar business exists, a person should not consider creating one.

True

False

Hunt Incorporated sold $209,000 of accounts receivable to Gannon Factors Inc. on a with recourse basis.

Vest Industries manufactures 40,000 components per year. The manufacturing cost of the components was determined as follows: Direct materials $ 75,000 Direct labor 120,000 Variable overhead 45,000 Fixed overhead 60,000 Total $300,000 An outside

What type of tax system does the United States have

Which of the following best describes owner's equity? A. Equal to the business' liabilities less the business' assets B. The owner's interest or worth in the business C. What the owner owes the business D. What the business owes

How does liability insurance differ from comprehensive or collision insurance?

Joel operates his business, carson collectibles, by himself. he has made no election with his state regarding his business. what is the most likely form of joel's business?

Sheridan Company received $135000 in cash and a used computer with a fair value of $318000 from Carla Vista Co. for Sheridan Company's existing computer having a fair value of $453000 and an undepreciated cost of $420300 recorded on its books.

A profit-maximizing firm in a monopolistically competitive market differs from a firm in a perfectly competitive market because the firm in the monopolistically competitive market a. sells its product in a highly-concentrated market. b.

At the end of the accounting period, Isaac Company had a balance of $4,000 in its common stock account, additional paid in capital of $4,000, retained earnings of $3,000, and $1,000 of treasury stock. The total amount of stockholders' equity is:a.

If the findings and the results are not presented properly, the research completed was a waste of time and money. True False