Which of the following statements regarding discontinued operations is true?
a. The assets and liabilities of a disposal group classified as held for sale by an entity may be offset and shown as a single item on the balance sheet of the entity.
b. The assets and liabilities of a disposal group of an entity must be shown separately in the asset and liabilities sections of the balance sheet of the entity and cannot be offset.
c. An adjustment in a subsequent period to the selling price of a component of an entity sold must be reported as a retroactive adjustment in the prior-period financial statements of the entity in which the discontinued operation was reported.
d. The gain or loss on disposal of a component of an entity classified as a discontinued operation need not be disclosed separately from the loss from operations of the discontinued segment.
e. None of these answers is correct.
B
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Harriet, Mickey, and Zack decide to liquidate their partnership. All assets are sold and the liabilities are paid. Following these transactions, the capital balances and profit and loss percentages are as follows: Harriet, $27,000 and 30%; Mickey, $(12,000) and 40%; Zack, $43,000 and 30%. Mickey is unable to contribute any assets to reduce the deficit. How much cash will Harriet receive as a
result of the partnership liquidation? a. $27,000 b. $21,000 c. $23,400 d. $15,000
Asking or requiring employees to ______ is the quickest and easiest way to fix a labor shortage.
A. hire their friends B. work slower C. work overtime D. take vacation
An organization in which top-level divisions are required to heed input from a staff composed of experts of another organizational dimension in an attempt to avoid the double-reporting difficulty of a matrix organization but still mesh two or more dimensions is known as a
A. virtual corporation. B. network corporation. C. hybrid organization. D. matrix overlay. E. matrix organization.
An example of internal secondary data is _____
a. ProQuest b. government census data c. a promotional budget obtained from your firm's advertising department d. an annual marketing report of a competitor obtained from a Web-based source