The advantage to the service organization of having membership relationships is that it knows who its future customers are and, usually, what they think of the services offered

Indicate whether the statement is true or false


False

Business

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Calculate the amount to be paid by the insurance company for the claim. Replacement    Amount of Loss Value of Face Value Coinsurance Amount Insurance Co. Building of Policy Clause of Loss Will Pay $100,000 $90,000 90% $1,000

What will be an ideal response?

Business

On January 1, 20X8, Parsley Corporation acquired 75 percent of Sage Company's voting common stock for $90,000 cash. At that date, the fair value of the noncontrolling interest was $30,000. Sage's balance sheet at the date of acquisition contained the following balances: Sage CompanyBalance SheetJanuary 1, 20X8Cash$10,000 Accounts Payable$35,000  Accounts Receivable 20,000 Notes Payable 50,000  Land 40,000 Common Stock 100,000  Building and Equipment 165,000 Additional Paid-In Capital 20,000  Less: Accumulated Depreciation (50,000)Retained Earnings (20,000) Total Assets$185,000 Total Liabilities and Equity$185,000  At the date of acquisition, the reported book values of Sage's assets and liabilities approximated fair value. Consolidating entries are being made to

prepare a consolidated balance sheet immediately following the business combination.Based on the preceding information, the amount of goodwill reported is: A. $20,000. B. $10,000. C. $15,000. D. $0.

Business

The following data have been taken from the budget reports of Kenyon Company, a merchandising company. Purchases SalesJanuary$160,000  $100,000 February$160,000  $200,000 March$160,000  $240,000 April$140,000  $300,000 May$140,000  $260,000 June$120,000  $240,000 Forty percent of purchases are paid for in cash at the time of purchase, and 30% are paid for in each of the next two months. Purchases for the previous November and December were $150,000 per month. Employee wages are 10% of sales for the month in which the sales occur. Marketing and administrative expenses are 20% of the following month's sales. (July sales are budgeted to be $220,000.) Interest payments of $20,000 are paid quarterly in January and April. Kenyon's cash disbursements for the month of April

would be: (CMA adapted) A. $200,000. B. $254,000. C. $248,000. D. $140,000.

Business

Account administration and recovery procedures are examples of ________ safeguards

A) data B) hardware C) human D) software

Business