Which type of statement says something that describes how the world currently is?

a) normative

b) positive

c) neither

Egret Corporation, a calendar year C corporation, was formed on March 6, 2015, and opened for business on July 1, 2015.

1. The Tingey Company has 500 obsolete microcomputers that are carried in inventory at a total cost of $830,000. If these microcomputers are upgraded at a total cost of $100,000, they can be sold for a total of $160,000.

Notes or accounts receivable that result from sales transactions are often called a. trade receivables b. nontrade receivables c. sales receivables d. merchandise receivables

If the information in an individul borrower's credit report is in dispute, he or she is entitles to A. request a copy of the corrected file B. sue the creu c. withdraw from the credit bureau

A city paid $40,000 for police cars with the expectation that they would have a useful life of 4 years. After 3 years, the city sold the cars for $3,000. How should the city account for the sale in the General Fund?

Anna and ben are up for the same promotion at work. when it comes time to make a decision, the management committee chooses ben for the position because they think anna's commitment to being a good mother to her children would prevent her from

If the demand for a product is elastic the value of the price elasticity coefficient is

Which of the following actions would be most likely to reduce potential conflicts of interest between stockholders and managers? a.

Wood Co. owns 2,000 shares of Arlo, Inc.'s 20,000 shares of $100 par, 6% cumulative, nonparticipating preferred stock and 1,000 shares (2%) of Arlo's common stock. During Year 2, Arlo declared and paid dividends of $240,000 on preferred stock.

For purposes of decision making, avoidable costs are costs that: