Jackson and Campbell have capital balances of $100,000 and $300,000, respectively. Jackson devotes full time and Campbell one-half time to the business. Determine the division of $150,000 of net income in ratio of capital balances
a. $75,000 and $75,000 b. $37,500 and $112,500
c. $100,000 and $50,000 d. $50,000 and $100,000
b
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a. True b. False Indicate whether the statement is true or false
In an internal transfer, the selling division records the event by crediting
a. Accounts Receivable and Cost of Goods Sold. b. Cost of Goods Sold and Finished Goods. c. Finished Goods and Accounts Receivable. d. Finished Goods and Intracompany Sales.
NEPA requires that the EIS contain:
a. an analysis of the relationship between local short-term uses of the environment and the maintenance and enhancement of long-term productivity. b. reversible and retrievable commitments of resources involved. c. only a brief outline of the adverse environmental effects of a proposed action. d. All of these.
A corporation formed in substantial compliance with the incorporation statute and the required organizational procedures is a:
A) de facto corporation. B) de jure corporation. C) corporation by estoppel. D) private corporation.