When it comes to essay tests, understanding the relationships among concepts is more important than memorizing facts and details.

True or False?

Describe the reasons Lyft entered strategic alliances with GM and Waymo? Are some reasons more important than others? Why or why not? Explain.

ACC Corporation's income statement shows depreciation of $1,611, sales of $21,415, interest paid of $1,282, net income of $1,374, and costs of goods sold of $16,408.

Stockholders' equity of Ernst Company consists of 82,000 shares of $5 par value, 10% cumulative preferred stock and 290,000 shares of $1 par value common stock. Both classes of stock have been outstanding since the company's inception.

Assume a company sold a piece of equipment for $3,000. The original cost was $15,000 and the accumulated depreciation prior to the sale was $10,000.

During a certain six-year period, the consumer price index (CPI) increased by 50%. But during the next six-year period, it increased by only 30%. Which of these conditions must have existed during the second six-year period?

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

Ollie Company experienced the following events during its first-year operations: 1. Acquired $72,000 cash from the issue of common stock. 2. Borrowed $26,000 from the First City Bank. 3. Earned $59,000 of cash revenue. 4.

Clemmens Company applies overhead based on direct labor cost. Estimated overhead and direct labor costs for the year were $118,500 and $125,600, respectively. During the year, actual overhead was $108,000 and actual direct labor cost was $115,800.