Which of the following is true of a completed worksheet?
A) The total debits in the unadjusted trial balance column equal the total debits in the adjusted trial balance column.
B) The total debits in the income statement column equal the total credits in the balance sheet column.
C) The total debits in the income statement column equal the total debits in the balance sheet column.
D) The total of all the debit columns is equal to the total of all the credit columns.
D
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Which of the following statements is true of a corporation?
A) Shareholders can be required to pay debts of the corporation. B) Shares of stock cannot be readily purchased and sold by investors on an organized stock exchange. C) Shareholders are authorized to sign contracts or make business commitments on behalf of the corporation. D) Corporations pay income tax on corporate earnings, and shareholders pay income tax on corporate dividends.
How are contracts for the provision of services treated under Article 2 of the Uniform Commercial Code?
What will be an ideal response?