From an employer's perspective, individuals identified as false negatives resulting from the administration of a polygraph (lie detector) test are more costly than individuals identified as false positives
Indicate whether the statement is true or false
T
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A $6,000, 60-day, 12% note recorded on November 21 is not paid by the maker at maturity. The journal entry to recognize this event is
A) debit Cash, $6,120; credit Notes Receivable, $6,120 B) debit Accounts Receivable, $6,120; credit Notes Receivable, $6,000; Credit Interest Receivable, $120 C) debit Notes Receivable, $6,060; credit Accounts Receivable, $6,060 D) debit Accounts Receivable, $6,120; credit Notes Receivable, $6,000; Credit Interest Revenue, $120
Under the Revised Act, Brafford, a director who is a member of the board that declares an illegal dividend, may be but is not under all circumstances personally liable to the company for the amount that is illegal even if she personally voted for the distribution contrary to the company's charter
a. True b. False Indicate whether the statement is true or false
Which of the following terms is not specifically related to an unfriendly buyout?
A) Takeover tender offer B) White knight C) Saturday night special D) Synergy
Penguin Corporation purchased bonds (basis of $190,000) of its 100% owned subsidiary, Finch Corporation, at a discount. Pursuant to a ยง 332 liquidation and in satisfaction of the indebtedness, Finch distributes land worth $200,000 (basis of $160,000) to Penguin. Which of the following statements is correct with respect to the distribution of land?
a. Neither Finch nor Penguin recognize gain (or loss). b. Finch recognizes no gain and Penguin recognizes a gain of $10,000. c. Finch recognizes a gain of $40,000 and Penguin recognizes no gain. d. Finch recognizes a gain of $40,000 and Penguin recognizes a gain of $10,000. e. None of the above.