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: In accounting, the basic accounting equation is: [\text{Assets} = \text{Liabilities} + \text{Equity}] This equation is fundamental because it shows that the total value of

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) dictates that

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 the Return on Assets (ROA), we use the following formula: [\text{ROA} = \frac{\text{Net Income}}{\text{Average Invested Assets}} \times 100] Where: Now, let’s plug the values

Trade barriers can hurt a country’s economy by: A. reducing its overall economic efficiency.B. increasing the variety of available consumer goods.C. reducing competition for domestic industries.D. increasing its economic reliance on other countries. The correct answer and explanation is : The correct answer is A. reducing its overall economic efficiency. Explanation: Trade barriers, such as

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, also known as

Geographical isolation is associated with a. allopatric speciationb. sympatric speciationc. clonesd. prides The correct answer and explanation is : The correct answer is a. allopatric speciation. Explanation:Geographical isolation is a key factor that leads to allopatric speciation, a process by which new species are formed when populations of a species become geographically separated. The separation

Mass extinctions a. cut the number of species to the few survivors left todayb. resulted mainly from the separation of the continentsc. occurred regularly, about every million yearsd. were followed by diversification of the survivors The correct answer and explanation is : The correct answer is d. were followed by diversification of the survivors. Explanation:

The type of reproductive barrier that occurs when two species mate but produce sterile hybrids is referred to as a. mechanical isolationb. temporal isolationc. a post-zygotic barrierd. behavioral isolation The correct answer and explanation is : The correct answer is c. a post-zygotic barrier. Explanation: A post-zygotic barrier refers to a reproductive barrier that occurs

For the spirometer activities, record experimental respiratory volumes as determined in the laboratory. Corrected values and FEV are for the recording spirometer only. The correct answer and explanation is : To address the experimental respiratory volumes and corrected values, as well as the Forced Expiratory Volume (FEV) using a spirometer in a laboratory setting, let’s