?Acall's intrinsic value ?1. determines its maximum price 2. determines its minimum price 3. rises as the price of the stock declines 4. rises as the price of the stock rises
A. ?1 and 3
B. ?1 and 4
C. ?2 and 3
D. ?2 and 4
Answer: D
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A perpetual inventory system
A) only records the inventory on hand at the end of the year physical count B) keeps a continuous record of the physical quantities of inventory on hand C) does not maintain a continuous record of the physical quantities of inventory on hand D) does not maintain a continuous record of the cost of inventory on hand
An investor that uses the equity method of accounting for its investment in a 40 percent-owned investee that earned $50,000 and paid $8,000 in dividends, made the following entries: Investment in Equity Securities 20,000 Equity in Earnings of Investee 20,000 Cash 3,200 Dividend Revenue 3,200 What effect will these entries have on the parent corporation's statement of financial position?
a. Investment in subsidiary understated, retained earnings understated. b. Investment in subsidiary overstated, retained earnings overstated. c. Investment in subsidiary overstated, retained earnings understated. d. Financial position will be fairly stated.
The amount of money that has not yet been withdrawn from the company’s checking account—even though the checks have already been written is known as:
a. a cash reserve b. float c. a line of credit d. trade credit e. credit financing
A holographic, un-witnessed will is often as legally effective as a formal, witnessed will
Indicate whether the statement is true or false