Which one of these statements is correct?
A) Pretax income is equal to net income minus taxes.
B) The addition to retained earnings is equal to net income plus dividends.
C) Operating income is equal to operating revenue minus cost of goods sold.
D) Only current taxes are included in the tax expense.
E) Earnings per share can be negative but dividends per share cannot.
E) Earnings per share can be negative but dividends per share cannot.
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Karen has decided to develop a code of ethics for her law firm by starting with the text of the code of ethics of a highly respected law firm of roughly the same size that operates in her state. What is the biggest problem with this action?
a. the threat of plagiarism b. the missed opportunity to solicit employee input c. the likelihood that her managers will ignore the new code d. the likelihood that the other firm’s code will not apply to issues relevant to her firm
Which of the following is related to performing in the management process?
A) Comparison of job estimates with actual job costs B) Preparation of financial statement C) Computation of a job's cost per unit D) Selection of a predetermined overhead rate
When the contract rate of interest on bonds is higher than the market rate of interest, the bonds sell at ________
a. their face value b. a discount c. their maturity value d. a premium
Bedrock Company reported a December 31 ending inventory balance of $412,000. The following additional information is also available:The ending inventory balance of $412,000 included $72,000 of consigned inventory for which Bedrock was the consignor. The ending inventory balance of $412,000 included $22,000 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. Based on this information, the correct balance for ending inventory on December 31 is:
A. $412,000 B. $390,000 C. $318,000 D. $340,000 E. $362,000