Provide a definition of an equity carve-out.

While in the process of posting from the journal to the ledger a company failed to post a $500 debit to the Office Supplies account. The effect of this error will be that:

A) The Office Supplies account balance will be overstated.
B) The trial balance will not balance.
C) The error will overstate the debits listed in the journal.
D) The total debits in the trial balance will be larger than the total credits.
E) The error will overstate the credits listed in the journal.

In a small college town, four microbreweries have opened in the last two years. Demonstrate the effect of new market entrants on demand for existing firms (microbreweries) that already served this market. Assume that the local community now places a moratorium on new liquor licenses for microbreweries. How will this moratorium affect the long-run profitability of incumbent firms?

When making decisions, you must consider whether a decision that seems ethical now will seem unethical in the future.

Under the Americans with Disabilities Act, employers must accommodate the needs of persons with disabilities, even if doing so causes undue hardship.

Which of the following statements is true?

A) The inventory period of the operating cycle ends when the receivable it creates is actually paid for by the customer.
B) The length of the operating cycle is always greater than or equal to the length of the cash cycle.
C) The accounts receivable period is always greater than or equal to the length of the cash cycle.
D) The inventory period plus the accounts receivable period is equal in length to the operating cycle plus the cash cycle.
E) The accounts payable period ends when the inventory is sold.