Which of the following equations for the Book value Plus Adjustment method is correct?
A) Value of equity (VE) = market value of equity - adjustments
B) Value of equity (VE) = book value of equity + adjustments
C) Value of equity (VE) = book value of equity - adjustments
D) Value of equity (VE) = market value of equity + adjustments
B
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The person who acts as both sender and receiver of messages is called the
A) transceiver B) decoder C) encoder D) messenger
Law may not be up to the task of forcing corporations to engage in ethical behavior for a number of reasons, including that:
A. judges are likely to be sympathetic to corporations. B. Sarbanes-Oxley decreases the likelihood that illegal behavior will be detected. C. corporations voluntarily elect to pursue ethical ends. D. it is not certain that all corporations will respond to the threat of financial penalties imposed by law.
Vermillion, Inc. has two processes—Dyeing Department and Finishing. The company sold 2,000 bolts of cloth for $220,000, of which $150,000 was sold on account. The total production cost was $385,000 for 5,500 bolts of cloth. The perpetual inventory system and process costing are used.
What are the journal entries to record a sale if the company follows a process costing system?
List six areas typically addressed by codes of ethics.
What will be an ideal response?