In a civil case, the plaintiff must establish the truth of his or her claim by
a. proving his or her facts beyond a reasonable doubt.
b. a preponderance of the evidence.
c. direct examination.
d. asking for a motion to dismiss.
B
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York Merchandising Company uses a perpetual inventory system. At the end of the accounting period, a physical count of merchandise inventory reveals a balance of $76,500. The books show a balance of $78,200.
(a) Prepare the adjusting entry. Omit explanation. (b) Discuss the possible causes for the difference between the physical count and the balance in the books. (c) How does this affect net income?
U.S. GAAP specifies criteria for a capital lease. Which of the following is not one of the criteria?
a. The lease transfers ownership of the leased asset to the lessee at the end of the lease term. b. Transfer of ownership at the end of the lease term seems likely because the lessee has a bargain purchase option. c. The lease extends for at least 75% of the asset's expected useful life. d. The present value of the contractual minimum lease payments equals or exceeds 75% of the fair value of the asset at the time the lessee signs the lease using a discount rate appropriate for the creditworthiness of the lessee. e. The present value of the contractual minimum lease payments equals or exceeds 90% of the fair value of the asset at the time the lessee signs the lease using a discount rate appropriate for the creditworthiness of the lessee.
The remaining cash of a partnership (after creditors have been paid) upon liquidation is divided among partners according to their
A) capital balances B) contribution of assets C) drawing balances D) income sharing ratio
Regarding political forces and their impact on standardization of global operations, which of the following is not true, according to the text?
A. Officials in developing countries often feel that low-productivity technology will keep the country dependent on the industrialized countries. B. Some developing countries, fearing dependence on industrialized nations, have laws prohibiting the importation of new machinery. C. Officials in developing countries often believe that only a factory with advanced technology can compete in world markets. D. Although the country desperately needs new job creation, which favors labor-intensive processes, government officials in developing countries often insist that the most modern equipment be installed.