Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. [Negligence | Indemnity] is the failure to act in a reasonable manner or take necessary steps to protect others from harm.
a
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Usually, failure to record a liability means failure to record a(n)
A) revenue. B) note. C) expense. D) asset.
On December 31 . 2013 and 2014, Tomlin Corporation had 100,000 shares of common stock and 50,000 shares of noncumulative and nonconvertible preferred stock issued and outstanding. Additional information: Stockholders' equity at 12/31/2014 .................... $4,500,000 Net income year ended 12/31/2014 ...................... 1,200,000 Dividends on preferred stock year ended 12/31/2014
300,000 Market price per share of common stock at 12/31/2014 .. 144 The price-earnings ratio on common stock at December 31 . 2014, was a. 10 to 1. b. 12 to 1. c. 14 to 1. d. 16 to 1.
List and describe the two forms of workplace sexual harassment.
What will be an ideal response?
PTG Enterprises purchases many small pieces of office furniture, such as trash cans, that cost less than $100 each. PTG accounts for these items as expenses when acquired rather than reporting them as property, plant, and equipment on its balance sheet. The company's accountant states that no accounting principle has been violated. Justification for PTG's policy of expensing these furniture items
is based on cost vs. benefit considerations as well as qualitative characteristic of accounting information of: A) conservatism. B) materiality. C) reliability. D) verifiability.