Earnings per share is calculated by dividing net income minus preferred stock dividends for the period by the average number of common shares outstanding during the period?

True

False

A revenue account?

is decreased by credits.

is increased by debits.

has a normal balance of a debit.

is increased by credits.

The proprietorship form of business organization?

must have at least two owners in most states.

is classified as a separate legal entity.

generally receives favorable tax treatment relative to a corporation.

combines the records of the business with the personal records of the owner.