Which of the following transactions will not result in the recognition of an expense?
a. Interest accrued on a bank loan
b. Declaration and payment of a dividend
c. Use of machinery during the period
d. Expiration of prepaid insurance
B
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Domino's Pizza had to pull out of Italy because Italians perceived its products to be "too American."
Indicate whether the statement is true or false
Arena, Inc uses straight-line depreciation for its equipment. Arena purchased equipment for $300,000 and estimated its useful life at 8 years. The bookkeeper failed to consider the residual value of $50,000 . What is the impact on earnings per share and operating income of failing to consider the residual value?
a. Earnings per share will be overstated and operating income will be understated. b. Earnings per share will be understated and operating income will be overstated. c. Both earnings per share and operating income will be overstated. d. Both earnings per share and operating income will be understated.
Which statement is not correct?
a. Inventories provide a competitive advantage. b. Inventories can invite overproduction. c. Inventories are expensive to maintain. d. Inventories may conceal problems.
The generation of employees called ______ were born between 1965 and 1980 and are sometimes referred to as “baby busters” or “latchkey kids.”
A. boomers B. traditionalists C. Gen Xers D. millennials