Question 15 3 pts In setting up a petty cash fund, which account is credited? accounts payable petty cash accounts receivable miscellaneous expenses C cash Question 16 3 pts On 3/15/20, Robertson Corp. bought land from Lear, Inc. for $248,000. Lear had carried the land on its books at $240,000. Robertson paid $50,000 in cash and signed a note payable for the balance. On 12/19/20, Davis Co. offered to buy the land from Robertson for $252,000. On its 12/31/20 balance sheet, Robertson should show the land account at: 190,000 240,000 248,000 252,000 50.000 Question 17 3 pts Which one of the following statements is correct? O O.O Corporations are formed under federal law. A stockholder who sells his stock disrupts the legal existence of the corporation The liakility of each stockholder is limited to the dollar amount of that stockholder's ownership interest Day-to-day decisions about corporate activity are made by a board of directors, A corporation must have at least two owners. D Question 18 3 pts The assumption that a business can continue to remain in operation into the future is the: Monetary unit assumption Periodicity assumption Economic entity assumption Going concern assumption. Materiality assumption