Author Question: According to the accountant for Michael's Floral Supply, the firm's assets are 124,000 and its ... (Read 72 times)

newbem

  • Hero Member
  • *****
  • Posts: 579
According to the accountant for Michael's Floral Supply, the firm's assets are 124,000 and its liabilities are 31,000. Which of the following statements is true?
 A) The owners' equity is 155,000.
  B) The owners' equity is 93,000.
  C) The firm's current assets are 62,000.
  D) The firm's current liabilities are 24,000.
  E) The firm's accounting equation won't balance.

Question 2

Generally speaking, a narrow span of management implies that the height of the organization will be _____; a wide span of management implies that the height of the organization will be _____.
 A) flat; tall
  B) tall; sloped
  C) tall; flat
  D) short; tall
  E) long; short



akudia

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

B

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

For a complete list of videos, visit our video library