Question 1

a.) Corporations report retained earnings on their income statement. (True/False)

b.) Partners with the most capital get paid the most cash after partnerships are liquidated.(True/False)

c.)Partners with the most capital get paid the most when profit is divided.(True/False)

d.) It's safe to say partnerships don't pay income tax, partners do.(True/False)

e.) It's logical to conclude that corporations must pay dividends.(True/False)

f.) All corporations are owned by stockholders.(True/False)

g.) Accruals must always equal deferrals.(True/False)