The assets and liabilities of a

corporation are separate from its

owners.

O True

O False

What type of factor of production is a bulldozer?

An inferior good is: a. one whose demand curve will shift rightward as incomes rise. b. one whose price and quantity demanded vary directly. c. one which has not been approved by the federal food and drug administration. d.

Which option most accurately explains what take-home pay is? a) The amount of money you pay for health insurance b) The amount of money including taxes on your paycheck c) The amount of money remaining after deductions are taken out d) The amount of

Jonas is a 60% owner of Ard, an S corporation. At the beginning of the year, his stock basis is zero. Jonas's basis in a $20,000 loan made to Ard and evidenced by Ard's note has been reduced to $0 by prior losses.

Which of the following situations would cause variable-costing income to be lower than absorption-costing income? Selling expenses increased by 10% during the accounting period. Units sold equaled 39,000 and units produced equaled 42,000.

Adonis Corporation issued 10-year, 8% bonds with a par value of $200,000. Interest is paid semiannually. The market rate on the issue date was 7.5%. Adonis received $206,948 in cash proceeds. Which of the following statements is true? A.

Which type of group leadership has a communication pattern that flows from the top down?

Without trade, the farmer produced and consumed 2 pounds of pork and 4 pounds of tomatoes and the rancher produced and consumed 4 pounds of pork and 2 pounds of tomatoes.

On March 14, Zest Co. accepted a 120-day, 6% note in the amount of $5,000 from AZC Co., a customer. On the due date of the note, AZC dishonors the note and fails to pay.

A building with a book value of $54,000 is sold for $63,000 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of a.