The purpose of dollar-value LIFO retail method is to eliminate the effects of price changes during a period

Stockholders invested $20,000 cash in a business for common stock. The journal entry to record this transaction would include

A. A debit to Cash and a credit to Retained Earnings B. A debit to Cash and a credit to Investment Income C. A debit to Service Revenue and a credit to Cash D. A debit to Cash and a credit to Common Stock

The Sarbanes-Oxley Act applies only to public companies

Indicate whether the statement is true or false