Which one of the following statements is NOT TRUE? a. Companies with interlocking boards of directors have directors that serve on both boards. b. An interlocking board has a negative influence on the quality of comporate governance. c. An effective board normally has the CEO as its chairman. d. An effective board normally has a majority of outside directors with business expertise. e. None of the above.

Landon mars, the company bookkeeper, recorded the $10,000 purchase of land as rent expense by decreasing cash and decreasing shareholders' equity. what is the effect of this error on the accounting equation

Which term refers to the cost that motivates an economic decision

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u. s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.