A preexisting duty can arise from a person's job or position or it can arise out of an existing

The following are the current month's balances for Adams Marketing Company

Accounts Payable $7,000 Revenue 11,000 Cash 3,000 Expenses 1,500 Furniture 14,000 Accounts Receivable 14,000 Common Stock 10,250 Notes Payable 5,500 What is the net income for Adams Marketing for the current month? A) $11,000 B) $9,500 C) $12,500 D) $14,000

In most states, legal capital is measured either by the par value of common stock; other states, however, define legal capital to include not only the par value of the stock, but also any paid-in capital in excess of par

Indicate whether the statement is true or false