Limited liability is:
a. a disadvantage to the corporate form of organization b. an advantage to the corporate form of organization
c. an incentive for governments to lower sales taxes for corporations d. a driving force behind the trend of businesses moving overseas
e. a clever economic strategy
b
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The effect of a retained earnings appropriation is to
a. divide the retained earnings into two categories. b. increase cash and other assets. c. allow the corporation to use its assets for dividends. d. increase the number of shares of stock available.
What was the amount of direct materials used in production during the year?
Garrett Corporation provided the following information for the year:
A) $66,000
B) $360,000
C) $383,000
D) $831,000
Embellishment or exaggeration is justified when needed for persuasive sales messages
Indicate whether the statement is true or false
In which of the following cases is an overdraft created in a drawer's account?
A) a properly payable check issued by the drawer is presented for payment, but the drawer's account does not have sufficient funds in it B) the drawer issues a stop-payment order for a check, but the bank still goes ahead and pays the holder of the check C) the bank pays the holder of a check in which the amount payable is altered to indicate a higher amount than was originally intended D) the payee presents the check after six months from the date of the check and the bank still pays the holder