A person must have contractual capacity to be an agent.

a. True

b. False

A firm's profit margin is 5 percent, its debt/assets ratio is 56 percent, and its dividend payout ratio is 40 percent. If the firm is operating at less than full capacity.

Under the accrual basis of accounting, many of the account balances in the ledger at the end of the accounting period are reported in the financial statements without change. Some accounts require updating, though.

hich statement about the format of a business letter is most accurate? a. Legal agreements are invalid if they do not demonstrate the correct letter format. b. All business letters will use the block formatting style. c.

Parents who invest a lot in their child financially can expect to earn back their investment later in life, when their children are able to comfortably support them in old age. True False

Making water available for future generations without harming the hydrologic cycle is termed ___ water use. A Option A: sustainable B Option B: artificial C Option C: inexpensive D Option D: analogous

The account "Warranty Liability": is adjusted at the end of the year. is credited each time a warranty repair is made. has a year-end credit balance equal to the cost of warranty repairs made during the year. is closed at the end of the year.

What percentage of U. S. households have no access to banking services? A) 8 percent B) 10 percent C) 15 percent D) 50 percent

Gina Davidson has received $50,000 in a divorce settlement and is trying to decide how to invest it. She has looked at stocks but knows that some stocks have lost a lot of value for their owners recently.

Milo, a highly successful attorney, just received a $200 ticket for speeding. jim, an unemployed father of six, received a $50 fine for parking in a restricted area.

A business purchases equipment by paying $6,276 in cash and issuing a note payable of $19,177. Which of the following occurs? Select one: A. Cash is credited for $6,276, Equipment is credited for $25,453, and Notes Payable is debited for $19,177. B.