The shareholders' equity account,Revaluation Surplus,is likely to be found on the balance sheet of a company reporting under U.S.GAAP.

A company's total liabilities divided by its total stockholders' equity is called the:

A) Equity ratio.
B) Return on total assets ratio.
C) Pledged assets to secured liabilities ratio.
D) Debt-to-equity ratio.
E) Times secured liabilities earned ratio.

A budgeted income statement integrates the sales budget, cost of goods sold budget, and selling and administrative expenses budget, but excludes estimates of other revenue, other expense, and income tax.

If an acquired franchise or licence is for an indefinite time period, then the cost of the asset should not be amortized.

A disadvantage of partnerships is the mutual agency of all partners.