The purpose of a budget is to track your income and your spending. true or false?

According to arnold and bowie, are mnes responsible for the practices of their subcontractors and suppliers?

Assume that a partnership had assets with a book value of $240,000 and a market value of $195,000, outside liabilities of $70,000, loans payable to partner Able of $20,000, and capital balances for partners Able, Baker, and Chapman of $70,000,

When auditors wish to issue an unmodied opinion but highlight that the entity changed its method of accounting forsoftware development costs, they would most appropriately identify the change in accounting method in which of thefollowing? a.

Monopolistically competitive firms: a will set price where MC > MR. b earn a positive economic profit if price is greater than ATC. c engage in collusive activity in order to maximize profit.

Sean wants to buy a friend's car, but he does not have the $3,000 that his friend is asking. He has $2,500 and is considering borrowing the extra $500 from his sister.

In the 19th century, when crop failures often led to bank runs, banks would make relatively fewer loans and hold relatively more excess reserves. By itself, these actions by the banks should have a.

Jenny sells lemonade in front of her house in the summer. Several other kids in Jenny's neighborhood also run lemonade stands in the summer.

If a firm sells on terms of 2/10 net 30 days, and its DSO is 28 days, then the fact that the 28-day DSO is less than the 30-day credit period tells us that the credit department is functioning efficiently and there are no past-due accounts.

ranfield Company is considering eliminating its backpack division, which reported an operating loss for the recent year of $42,000. The division sales for the year were $960,000 and the variable costs were $475,000.

Durable Goods are goods that last for at least one month when used regularly. Question 20 options: True False