Which is the following is a false statement regarding TQM?
A. It emphasizes individual rather than teamwork commitment.
B. It empowers employees.
C. It diminishes much of the adversity found in many organizations.
D. It emphasizes cooperation.
A
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Tomas and Saturn are partners who share income in the ratio of 3:1 . Their capital balances are $80,000 and $120,000, respectively. Income Summary has a credit balance of $30,000 . What is Tomas's capital balance after closing Income Summary to the capital accounts?
a. $102,500 b. $22,500 c. $57,500 d. $127,500
Cassie conforms to the norms established by her church and ensures that her behavior always meets the expectations set forth by her parents and the church. According to Kohlberg's model of cognitive moral development, she resides in the ________ stage.
A. principled B. utilitarian C. preconventional D. postconventional E. conventional
Manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale are referred to as
A. institutional buyers. B. organizational buyers. C. resellers. D. ultimate consumers. E. multinational buyers.
Saturn Corporation issued $300,000 par value 10-year bonds at 107 on January 1, 20X3, which Star Corporation purchased. Pluto Corporation owns 65% of Saturn's voting shares. On Jan 1, 20X7, Pluto Corporation purchased $120,000 face value of Saturn bonds from Star for $118,020. On the date Pluto purchased the bonds, the bonds' carrying value on Saturn's book was $126,019. The bonds pay 12 percent interest annually on December 31. The preparation of consolidated financial statements for Saturn and Pluto at December 31, 20X9, required the following consolidating entry: Bonds Payable120,000 Premium on Bonds Payable3,470 Interest Income14,705 Investment in Saturn Corporation Bonds 118,838Interest Expense 13,461Investment in Saturn Corporation Stock 3,819NCI in NA of Saturn
Corp. 2,057Based on the information given above, if 20X9 consolidated net income of $50,000 would have been reported without the consolidating entry provided, what amount will actually be reported? A. $45,286 B. $47,774 C. $48,756 D. $51,244