A primary concern about corporate social responsibility is whether firms are genuinely sincere about committing to it
Indicate whether the statement is true or false
TRUE
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Almond Industries owns an investment that experienced a decline during 2019 that has been judged to be "other than temporary". The investment is held in Almond's minority passive equity investment portfolio. It was purchased in March 2018 at a cost of $460,000. At the end of 2018, the fair value of the investment was $520,000. At the end of 2019, the fair value of the investment is $410,000. What amount of loss will Almond Industries report on its income statement for the year ending December 31, 2019 related to this investment?
A. an unrealized loss of $50,000. B. an unrealized loss of $60,000. C. a realized loss of $50,000. D. an unrealized loss of $110,000.
The current ratio is
a. used to evaluate a company's liquidity and short-term debt paying ability b. a solvency measure that indicates the margin of safety of a bondholder c. calculated by dividing current liabilities by current assets d. calculated by subtracting current liabilities from current assets
The auditor is required by generally accepted accounting principles (GAAP) to observe the taking of physical inventory
a. True b. False Indicate whether the statement is true or false
If a company uses special journals
A) it must have one for cash, receivables, and payables B) it may have no more than four C) the quantity and design depend on the needs of the company D) no matter the quantity, the design must comply with the FASB requirements