Assets may include unsold merchandise a company has on hand

Indicate whether the statement is true or false.

Answer: TRUE
Explanation: Assets include cash on hand, accounts receivable, marketable securities, and merchandise inventory.

Business

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This occurs in the analyze step

Indicate whether the statement is true or false.

Business

Jennifer runs her own business. An auditor observes some discrepancies in the company's finances, and the case is taken to court. In a trial, a subpoena requires her to produce the books and records related to her business

Which of the following statements is true about this scenario? A) If the business is run as a corporation, the Fifth Amendment to the U.S. Constitution's privilege against self-incrimination allows Jennifer to refuse to produce the records. B) If the business is run as a sole proprietorship, the Fifth Amendment to the U.S. Constitution's privilege against self-incrimination allows Jennifer to refuse to produce the records. C) The Fifth Amendment to the U.S. Constitution's privilege against self-incrimination extends to custodians of corporate records, which allows Jennifer to refuse to produce the records. D) The Fifth Amendment to the U.S. Constitution's privilege against self-incrimination extends to all forms of business, which allows Jennifer to refuse to produce the records.

Business