Corporations were formed by small companies pooling their capital to expand their factories. true false

To promote their business, some psychics advertise free tarot-card readings and other insights into their customers' futures on television. Unfortunately, this "free reading" has cost some unsuspecting callers as much as $700 in phone charges.

In an underwritten arrangement, the investment banker assures the company that is issuing new securities that the entire issue will be sold, which means the investment banker bears significant risks in such an offering. True / False.

As of January 1, 2021, Chelsea Co. had a balance of $520,000 in its allowance for uncollectible accounts. Based on experience, 2% of Chelsea's credit sales have been uncollectible. During 2021, Chelsea wrote off $650,000 of accounts receivable.

What is Accounting ethics

When a perpetual inventory system is used, the unit costs of the items sold are known at the date of each sale. In contrast, when a periodic inventory system is used, unit costs are known only at the end of the accounting period.

Rent seeking is an attempt to A. use the government for individual benefit at the expense of others. Regulatory capture is an example of this, where a regulatory agency makes decisions benefiting the firm being regulated. B.

An Insurance company is a business in which it pays to the company if there is a loss, damage, treatments or injury for the payment of premium amount. It calculates the risks that has occurred and pays to compensate the premium amount.

Pool Line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we have waited a lifetime for." The cleaning system is very effective and recommended by all consumer magazines.

Use the following example to answer the following questions: Imagine that Stella deposits $25,000 in currency (which she had been storing in her closet) into her checking account at the bank.

Barr Corp. started a long-term construction project in 20X0. The following data relate to this project: Contract price $4,200,000 Costs incurred in 20X0 $1,750,000 Estimated costs to complete $1,750,000 Progress billings $900,000 Collections on