Abel Toys, Inc did not pay a dividend because it suffered a loss for that year. Jones, a stockholder, claimed that as an owner of the business, he was entitled to receive a dividend. Is Jones correct?
No. A corporation may only pay a dividend out of profits it earns.
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With the periodic inventory system, the inventory account is updated after each sale or purchase
a. True b. False Indicate whether the statement is true or false
The most basic concept test is a ________ test that describes several concepts briefly and asks subjects for an overall evaluation
A) screening B) concept generation C) concept evaluation D) concept development
When leaders build a strong, unified culture in the teams that they lead because of the cohesiveness and sense of purpose that comes from this, it is called a ______.
a. culture of purpose b. culture of diversity c. culture of homogeneity d. culture of heterogeneity
Sumter Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Work in process, beginning: Units in process 6,000 Percent complete with respect to materials 60%Percent complete with respect to conversion 20%Costs in the beginning inventory: Materials cost$78,200 Conversion cost$3,600 Units started during the month ? Units completed and transferred out during the month 70,000 Costs added to production during the month: Materials cost$286,600 Conversion cost$216,000 Work in process, ending: Units in process 8,000 Percent complete with respect to materials 75%Percent complete with respect to conversion 25% What was the cost per
equivalent unit for conversion during the month? A. $5.45 B. $6.95 C. $3.05 D. $4.00