PTBarnum Accused Himself of Fraud Under a Fake Name in Order

question 20

Multiple Choice

P.T.Barnum accused himself of fraud under a fake name in order to do which of the following?

• A)get publicity
• B)gain sympathy
• C)avoid a lawsuit
• D)test his employees' loyalty

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Definitions:

Revenues

The total income generated from normal business operations, often from the sale of goods and services.

Expenses

Expenses that a company incurs while generating income.

Real Account

a permanent account in the general ledger that tracks the value of a company's property, plant, equipment, and other non-current assets over time.

Permanent Account

A permanent account is an account that is not closed at the end of the accounting period and carries its balance over into the next period, such as assets, liabilities, and equity accounts.