Examlex
Each month for the past three years,Carol has been overcharged 50 cents by ABC Cell Phone Corporation.She has good reason to believe that tens of thousands of other individuals have also been defrauded of 50 cents each.Carol wants to sue,but the expense of bringing a lawsuit for 50 cents is too great.What can Carol do to obtain a judicial hearing of her complaint?
Gains and Losses
Increases or decreases in equity from transactions and other events and circumstances affecting the entity, other than those relating to contributions from or distributions to equity participants.
Salary Allowances
Monetary benefits in addition to regular salary provided to employees, which may cover expenses such as housing, transportation, and medical expenses.
Partnership Net Income
The total profits earned by a partnership that are to be divided among partners in agreed-upon proportions.
Equity
The amount of funds contributed by owners (shareholders) plus the retained earnings (or losses), representing ownership interest in a firm.
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