The principal master data that you would expect to see in a B/AR/CR process is the:
a. sales order
b. shipping notifications
c. sales journal
d. accounts receivable
D
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On January 1, 2010, Walker Corporation has the following stockholders' equity accounts: Common Stock, $10 par $300,000 Retained Earnings 900,000 The fair market value of Walker's net identifiable assets on this date was equal to their book value. On January 1, 2010, Rau Corporation acquired 100 percent of the common stock of Walker Corporation for $1,320,000 cash. The elimination entry necessary
to prepare a consolidated balance sheet for this date is: a. Common Stock(Walker) 300,000 Retained Earnings(Walker) 900,000 Goodwill 120,000 Investment in Walker Corporation(Rau) 1,320,000 b. Common Stock(Walker) 300,000 Retained Earnings(Walker) 900,000 Loss from Consolidation 120,000 Investment in Walker Corporation (Rau) 1,320,000 c. Common Stock(Walker) 300,000 Retained Earnings(Walker) 900,000 Investment in Walker Corporation (Rau) 1,200,000 d. Common Stock(Walker) 300,000 Retained Earnings(Walker) 900,000 Gain from Consolidation 120,000 Investment in Walker Corporation (Rau) 1,320,000
Many U.S. consumers are purchasing hybrid automobiles because they leave less of a carbon footprint. These consumers are called
A. greenwashing consumers. B. economical consumers. C. smart consumers. D. hybrid consumers. E. green consumers.
The question of when revenue should be recognized on the income statement according to GAAP is addressed by the:
A. Revenue recognition principle. B. Going-concern assumption. C. Measurement (Cost) principle. D. Business entity assumption. E. Objectivity principle.
Subsidization in insurance pools occurs if a 40-year-old male is charged the same life insurance premium as a 20-year-old male
Indicate whether the statement is true or false