It is typically easy to determine a precise mix of optimal debt and equity

When a self-correcting error is discovered after closing the books for the second year ________

A) no entry is necessary because all permanent accounts are correctly stated B) an entry is necessary to correct the permanent accounts C) an entry must be made to correct both the income statement and balance sheet accounts D) a footnote disclosure with the financial statements is required describing the error

As a traditional agency grows and takes on more clients, the account supervisor appoints account executives to serve as individual contacts with the various clients and their accounts

Indicate whether the statement is true or false