AC8 - Good choice 13. Most businesses in the U.S. are...

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8. If owners' equity increases: Your Answer: All of the above situations. 9. ____% of U.S. businesses are corporations, and they do____% of U.S. business. Your Answer: 40/60 Correct Answer: 20/90 There are some giant corporations out there. 10. Which statement is true regarding par value? Your Answer: All of the above are false statements. 11. Financial accounting focuses on the specific needs internal decision makers. Your Answer: False Good choice 12. The balance sheet equation is "Owners' equity = Assets + Liabilities. Your Answer: False
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Unformatted text preview: Good choice 13. Most businesses in the U.S. are corporations. Your Answer: True Correct Answer: False 20% of businesses are corporations, but they do 90% of the business. 14. If common stock is issued in excess of par value, that excess is called "additional paid-in-capital." Your Answer: False Correct Answer: True It is also called "paid-in-capital in excess of par." 15. Corporations have limited liability. Your Answer: False Correct Answer: True This is one of the primary reasons for incorporating....
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AC8 - Good choice 13. Most businesses in the U.S. are...

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