On a balance sheet, what does Equity represent?

a. Profit
b. What the company owns
c. What the company owes to others
d. The value of the company

b

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Two of the more recent approaches to management are empowerment and emotional intelligence.

A. True B. False

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Which of the following statements is true of state and local administrative agencies?

A) When federal and state agency laws conflict, the Supremacy Clause of Article VI of the U.S. Constitution plays a decisive role. B) State and local administrative agencies have been created by only 25 states of the United States. C) Real estate planning boards, zoning commissions, and supervisory boards operate at the state level. D) Agencies that regulate state-chartered banks are assigned duties by Congress, but governed by the state legislature.

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