The dual banking system in the u. s. today refers to:

50Packard Corporation transferred its 100 percent interest to State Company as part of a complete liquidation of the company. In the exchange, Packard received land with a fair market value of $300,000.

Amy has recently joined a new research institute. She had initially thought that her job would entail a lot of field work, which would allow her to gain some practical experience, but her manager just gives her a lot of paperwork instead.

Sydney's goal was to save for college tuition. However, she deposited her money in a CD and she couldn't withdraw it to pay for tuition. Which strategy, principle, or factor should she have considered? -Consider the opportunity cost.

Private property Multiple Choice discourages innovation, as people are often afraid to risk losing their own property. discourages cooperation because people don't want to part with what they own.

The master budget at Western Company last period called for sales of 226,700 units at $10.7 each. The costs were estimated to be $3.92 variable per unit and $226,700 fixed. During the period, actual production and actual sales were 231,700 units.

The income statement approach to calculating bad debt expense should not be used if it results in a carrying value of accounts receivable that is materially different from what would be obtained under a balance sheet approach. a. trueb. false

Independent business owners who approach attorneys for resolving their business-related disputes are referred to as counsel.

Alexander has not yet attended college. He is filling out a job application that asks him to enter the name of his college. What should he enter? N/A The name of his high school The college he wants to attend TBD

The accounting equation that reflects a relationship is often described as Assets equal Liabilities plus Net Worth. Is the equation ""Assets equal Liabilities plus Owners' Equity"" also appropriate and correct? A. YesB. NoC. Don't know

Green Company is planning to introduce a new product with a 75 percent incremental unit-time learning curve for production in batches of 1,500 units. The variable labor costs are $55 per unit for the first 1,500-unit batch.