Smallville is entitled to receive a grant of up to $50,000 from the federal government for a social program. Under the grant, Smallville is to be reimbursed for expenditures incurred on the program. During the year, expenditures on the program totaled $45,000. Prepare the entry for the expenditures first (they were not encumbered).Account Debit Credit

What are the main advantages and disadvantages of organizing a firm as a c corporation? the advantages are: (select all the choices that apply.) a. there is no limit on the number of owners a c corporation may have, thus allowing the corporation to raise substantial amounts of capital. b. the life of the business can continue beyond the death of any of the owners. c. the corporation can use the assets of the owners to pay for corporate liabilities. this attracts smaller investors to the corporation. d. the liability of the owners is limited to the amount of their investment in the firm. the disadvantages are: (select all the choices that apply.) a. income to a c corporation is subject to double taxation, once at the corporate level and again when received by the owners in the form of a dividend. b. the life of the business usually ends with the death of any of the owners. c. the c corporation is more complicated and more expensive to set up than other business entities. d. corporate liabilities can be passed on to the share

If his parents cannot alex with college, and two of his scholarships will be awarded to other students if he does not accept them immediately, which is the best option for him?

Stock market crashes happen when the value of most of the stocks in the stock market increase at the same time. question 10 options: true false