________ refers to a rule issued by an administrative agency that has the force of law and to which covered persons and businesses must adhere

The beginning balance in the Common Stock account of a company was $14,000. The revenues and expenses were $240,000 and $100,000, respectively. During the year, the company declared and paid dividends of $7,000 The ending balance in the Retained Earnings was $133,000. (Assume that the opening balance of Retained Earnings was zero.)

Indicate whether the statement is true or false

Marketing channel functions such as storage and movement and communications constitute a backward flow of activities

Indicate whether the statement is true or false