At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $231,000 and Total Liabilities of $17,800 and Total Paid-in capital of $71,200. During the year, the company reported total revenues of $270,000 and expenses of $209,000. Also, dividends during the year totaled $56,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be:
A. $200,000.
B. $147,000.
C. $230,000.
D. $141,000.
E. $144,000.
Answer: B
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Two models that firms can use to measure perception gap are ______.
A. the RATER model and the GAP model B. the DuPont model and the Monsanto model C. the Consumer model and the Producer model D. the Government model and the ISO model
An understatement of ending inventory will cause:
A. An overstatement of assets and equity on the balance sheet. B. An understatement of assets and an overstatement of equity on the balance sheet. C. An understatement of assets and equity on the balance sheet. D. An overstatement of assets and an understatement of equity on the balance sheet. E. No effect on the balance sheet.
Standard costs can be used by management to assess the reasonableness of actual costs incurred.
Answer the following statement true (T) or false (F)
In January 2012, Unilever announced the launch of ______, created to improve the quality of life through changes in hygiene sanitation, access to clean drinking water, basic nutrition, and enhanced self-esteem.
a. the Unilever Foundation b. the Unilever website c. the Unilever consulting team d. a new state of the art production plant