Suppose XYZ Corporation is traded on the New York Stock Exchange. XYZ's closing price on
Monday is $20 per share. After the market closes on Monday, XYZ makes a surprise announcement
that it has obtained a major new customer.
XYZ's stock will likely
A) open above $20 because the positive news will result in a higher valuation even though the
stock has not yet traded.
B) remain at $20 per share because in efficient markets the price already reflects all information.
C) open below $20 because the surprise announcement creates more uncertainty.
D) open at $20 per share on Tuesday and then increase as more investors read the announcement
in the Wall Street Journal.
A
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A bank reconciliation contains all of the following items except ________
a. cash balance according to the bank statement b. adjusted balance at the end of the month c. stockholders' equity balance at the beginning of the month d. cash balance according to the depositor's records
Accountants can be named as defendants in lawsuits that assert violations of the Racketeer Influenced and Corrupt Organizations Act (RICO)
Indicate whether the statement is true or false
Charles owns 1,000 shares of stock in Temperan, Inc Charles wants to obtain corporate records including the corporation's minute book and accounting records. Under the Model Act, Charles is entitled to this information if he requests it in good faith and A)?he owns at least 1 percent of the company or $2,000 of stock
B)?he is an employee of Temperan. C)?he is a controlling shareholder. D)?he has a proper purpose.
The James Corporation has four departments with data as follows: Service Departments Operating Department CafeteriaMaintenance MillingFinishingBudgeted costs$12,000$10,000 $42,000$38,000Number of employees1210 8466Labor hours1,5001,250 5,2504,750? ? ?Maintenance Department costs are allocated on the basis of labor hours. The amount of cost allocated to Milling from Maintenance under the direct method would be:
A. $5,700 B. $5,250 C. $6,720 D. $5,600