All of the following are primary events that typically lead to changes in book value of shareholders' equity except:
a. Investments by shareholders, usually net cash received by the company at equity issue date.
b. Profitable operating and investing activities, with net income being a large component of this increase.
c. Debtholders requiring firms to enter into debt covenants.
d. Distributions to shareholders, usually in the form of periodic cash dividend payments
to investors and sometimes in the form of share repurchases.
C
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Automated retailing
A. promotes products through infomercials. B. is a recruiting tool for multilevel networks. C. is most effective in high-traffic areas. D. uses a master distributor as lead salesperson. E. is based on the idea that social relationships influence buying habits.
Michael & Co. expects overhead costs of $60,000 per month and direct production costs of $24 per unit. The estimated production activity for the current accounting period is as follows: 1st Quarter2nd Quarter3rd Quarter4th QuarterUnits produced11,5009,0008,25011,250 The predetermined overhead rate based on units produced is: (rounded to the nearest penny.)
A. $1.50 per unit. B. $2.67 per unit. C. $42.00 per unit. D. $18.00 per unit.
Which of the following contract offenses are available for the drawer of a cheque against a holder in due course?
A) Misrepresentation B) Mistake C) Undue Influence D) Duress E) None of the above
If an instrument bears a restrictive indorsement, any further transfer or negotiation is effectively barred
Indicate whether the statement is true or false