Marian Mosely is the owner of Mosely Accounting Services. Which accounting principle requires Marian to keep her personal financial information separate from the financial information of Mosely Accounting Services? a. Monetary unit principle.b. Going-concern principle.c. Cost principle.d. Business entity principle. The correct answer and explanation is : The correct answer is: d. Business entity principle. […]

If assets are $99,000 and liabilities are $32,000, then equity equals: a. $32,000.b. $67,000.c. $99,000.d. $131,000.e. $198,000. The correct answer and explanation is : The correct answer is b. $67,000. Explanation: The basic accounting equation, which underlies the concept of double-entry accounting, is: Assets = Liabilities + Equity In this equation, assets represent what the

Digestion of foods includes the mechanical actions of:A the stomach to gently release foods into the small intestine.B chewing to allow some nutrients to be absorbed into the body through the tongue.C the small intestine to absorb water and create the paste that forms feces.D peristalsis waves to move the foods down through the digestive

Which of the following accounting principles would require that all goods and services purchased be recorded at cost? a. Going-concern principle.b. Continuing-concern principle.c. Cost principle.d. Business entity principle. The correct answer and explanation is : The correct answer is c. Cost principle. Explanation: The Cost Principle (also known as the Historical Cost Principle) requires that

Classify each of the following materials as an element, compound, heterogeneous mixture, or homogeneous mixture: (a) zinc, (b) zinc sulfide, (c) saltwater, (d) salad. The correct answer and explanation is : Let’s classify each material: (a) Zinc: Element(b) Zinc sulfide: Compound(c) Saltwater: Homogeneous mixture(d) Salad: Heterogeneous mixture Explanation: In summary:

Classify each of the following materials as an element, compound, heterogeneous mixture, or homogeneous mixture: (a) air, (b) water, (c) diamond, (d) soil. The correct answer and explanation is : Let’s classify each of the materials as an element, compound, heterogeneous mixture, or homogeneous mixture: (a) Air Classification: Homogeneous mixture Explanation: Air is a mixture

Nike had income of $350 million and average invested assets of $2,000 million. Its ROA is: a. 1.8%.b. 35%.c. 17.5%.d. 5.7%.e. 3.5%. The correct answer and explanation is : To calculate Nike’s Return on Assets (ROA), we use the following formula: ROA=Net IncomeAverage Invested Assets×100ROA = \frac{\text{Net Income}}{\text{Average Invested Assets}} \times 100 Where: Now, plug the values into

Compare and contrast synchrony and alpha block. The correct answer and explanation is : Answer: Synchrony and alpha block are both concepts related to brainwave activity, but they describe different phenomena. Synchrony refers to the coordinated timing of neural oscillations (brain waves) across different regions of the brain, while alpha block describes the inhibition or

Which of the following is true about a probability distribution? the sum of all possible outcomes must equal 1.the outcomes must be mutually exclusive.the probability of each outcome must be between 0 and 1 inclusive.all of the above. The correct answer and explanation is : The correct answer is “all of the above.” A probability

The accounting guideline that requires financial statement information to be supported by independent, unbiased evidence other than someone’s belief or opinion is the: a. Business entity principle.b. Monetary unit principle.c. Going-concern principle.d. Cost principle. The correct answer and explanation is : The correct answer is: d. Cost principle. Explanation: The Cost Principle in accounting, also