1. Which of the following is not characteristic of a corporation?
Corporations have less
regulatory costs than other business forms.
An advantage of the corporate form of business entity is the ease of transfer of ownership.
2. One of the main disadvantag
January 25, 2016
Costs with future values are assets.
Cost with no future value is an expense.
Assets = Liabilities + Stockholders equity
1. A group of accounts for a business entity is called LEDGER
The chart of accounts is A LIST OF ACCOUNTS IN THE LEDGER
2. Which of the following is correct about T accounts? SIMPLEST FORM
3. Which of the following statements is not true for T
On January 8, Cargo Co. issued a $60,000, 6%, 120-day note payable to Roadside Co. Using a 360day year, what is the maturity value of the note? 61,200
On January 8, Lowrence Co. issued a $60,000, 120-day discounted note to Raines Bank. The
discount rate i
1. Which of the following is not an advantage of issuing bonds instead of common stock?
Earnings per share on common stock are always lower.
2. Before deciding on long-term borrowing as part of a financing plan, a key measurement that
should be considered