In a limited partnership, a general partner's dissociation from the firm normally will lead to dissolution unless all partners agree to continue the business
Indicate whether the statement is true or false
True
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In the skeletal structure of a pivot table, the _____ is the list of fields in the original table that you can work with.
A. Filter Field Area B. Column and Row Field List C. PivotTable Field List D. PivotTable Labels Area
A company issues bonds saying that it will use the proceeds for a safe investment. Instead, it uses the proceeds for a risky investment. Which of the following statements is true about this situation.
A. This is an example of asset switching or bait and switch. B. What the company does with the funds once it raises them isn't the business of the debtholders. C. This will result in an increase in the value of the debt because the company is riskier. D. All of the above. E. None of the above.
Financial ratios cannot be used to evaluate the creation of shareholder wealth because they are
based on accounting numbers that reflect historical cost and not current market values. Indicate whether the statement is true or false
On January 1, 20X4, Plimsol Company acquired 100 percent of Shipping Corporation's voting shares, at underlying book value. Plimsol accounts for its investment in Shipping at cost. Shipping's retained earnings was $75,000 on the date of acquisition. On December 31, 20X4, the trial balance data for the two companies are as follows: Plimsol Co.Shipping Corp.ItemDebitCreditDebit Credit Current Assets$100,000 $75,000 Depreciable Assets (net) 200,000 150,000 Investment in Shipping Corp. 125,000 Other Expenses 60,000 45,000 Depreciation Expense 20,000 15,000 Dividends Declared 25,000 15,000 Current Liabilities $40,000 $25,000 Long-Term
Debt 75,000 50,000 Common Stock 100,000 50,000 Retained Earnings 150,000 75,000 Sales 150,000 100,000 Dividend Income, Shipping Corp. 15,000 $530,000 $530,000 $300,000 $300,000 Based on the information provided, what amount of total liabilities will be reported in the consolidated balance sheet prepared on December 31, 20X4? A. $115,000 B. $190,000 C. $125,000 D. $525,000