The paid-in capital from sale of treasury stock account is debited if the sales price of the treasury stock sold is greater than its cost

Indicate whether the statement is true or false


False

Business

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The amount of goodwill represents the excess of the total purchase price over the fair value of identifiable tangible and intangible net assets

Indicate whether the statement is true or false

Business

Income tax was $150,000 for the year. Income tax payable was $20,000 and $30,000 at the beginning and end of the year, respectively. Cash payment for income tax reported on the cash flow statement using the direct method is ________

a. $140,000 b. $150,000 c. $180,000 d. $170,000

Business

__________systems free sales representatives from the time-consuming task of following up on leads to determine need, buying power, and receptiveness

Fill in the blanks with correct word.

Business

Think about the ethical values set forth in AMA's Code of Ethics. Which value is represented when a firm accepts constructive criticism from customers and other stakeholders?

A. respect B. responsibility C. honesty D. transparency E. fairness

Business