Assets that are readily converted into cash are termed liquid assets.

a. True

b. False

Which financial statement is considered a link between the income statement and balance sheet?

Bob and Carol refinanced their sole residence, valued at $500,000, in 2019. Under the refinancing arrangement, they refinanced their $300,000 indebtedness for $400,000, receiving $100,000 in cash that they used to pay for their daughter's wedding.

Which one of these statements is fasle? A. Ownership of common stock gives the owner a voting right. B. The stockholders' equity section begins with paid-in capital. C. The authorization of capital stock does not result in a formal accounting entry.

The units in beginning work in process inventory plus the units in ending work in process inventory must equal the units transferred out of the department plus the units started into production. T/F

Universal Containers would like to use a Chatter group for their Mergers and Acquisitions team to collaborate on potential new projects. This group should not be visible for non-members to see or join, and can be accessed by invite only.

Cole has a credit card bill of $3,100. His credit limit is $3,000. Is Cole using credit responsibly or irresponsibly? A. responsibly B. irresponsibly

In the month of November Marigold Corp. wrote checks in the amount of $43300. In December, checks in the amount of $59239 were written. In November, $39630 of these checks were presented to the bank for payment, and $50932 in December.

Donald and Charlene are married and do not have any children. They plan to ensure that the other will not be unduly burdened by debts in case one of them dies. Each plans to continue to work after the other one dies.

Mike wants to open his own repair shop, and is considering using his savings of $30,000 to get it started. He is currently earning 3 percent interest on his savings.

Which best describes what a central bank uses monetary policy to do? ensure that the government has a balanced budget influence financial institutions globally ensure that the government is sufficiently funded steer the economy away from recession