If a company receives $12,000 from a stockholder,the effect on the accounting equation would be:

A) Assets decrease $12,000 and equity decreases $12,000.
B) Assets increase $12,000 and liabilities decrease $12,000.
C) Assets increase $12,000 and liabilities increase $12,000.
D) Liabilities increase $12,000 and equity decreases $12,000.
E) Assets increase $12,000 and equity increases $12,000.

Human capital must be obtained from two sources.What are these two sources?

A) skill and management inventories
B) current employees or individuals currently not employed by the organization
C) recruitment and selection
D) human resources and labour markets

Which of the following is a criticism of the traditional rule of restitution in the case of minors who have disaffirmed a contract?

A) It allows adults to ratify a contract with a minor.
B) It allows a minor to be exploited in a contract.
C) It does not allow a minor to disaffirm a bargain.
D) It is harsh on innocent adults who have dealt fairly with minors.

The product costing approach required by GAAP is referred to as ________.

Refer to Figure 15.2. If We Do Hair maximizes profits as a monopolistically competitive firm, its ________ equals $1,280.

A) total cost
B) profit
C) total revenue
D) loss