The ____ yield is the percentage change in the value of an investment
a. interest
b. total
c. current
d. capital gains
d
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A ________ business is one in which all major planning and operating decisions are made by the managers of the separate divisions
a. divisional b. centralized c. profitable d. decentralized
Neera agreed to be a director of the corporation at which she worked. Apart from accepting the title of director, she had no idea what was going on in the business. There were never any formal directors' meetings
The business went bankrupt and Revenue Canada sued her for $10,000 for income tax withheld by the Corporation from employee wages but not sent to Revenue Canada. The money was used to try and keep the business afloat. The employees are also suing for 5 months unpaid wages. Which of the following is (are) true? A) Neera is not liable for either claim as she had no involvement with the business B) She is not liable for the Revenue Canada claim as she didn't receive any of the money personally C) She is liable for the Revenue Canada claim only D) She is liable for the unpaid employee wages claim only E) She is liable for both the Revenue Canada in the unpaid wages claim
Tunso Corp has 1,000 shares of stock outstanding that are permitted to vote for directors. If Tunso Corp permits cumulative voting, a minority shareholder would need to vote how many shares to elect one of three directors?
a. 251 b. 501 c. 201 d. 334
Wiley Consulting purchased $7,000 worth of supplies and paid cash immediately. Which of the following general journal entries will Wiley Consulting make to record this transaction? Assume the company's policy is to initially record prepaid and unearned items in balance sheet accounts.
A.
| Cash | 7,000 | |
| Supplies | 7,000 |
B.
| Supplies | 7,000 | |
| Accounts Payable | 7,000 |
C.
| Supplies Expense | 7,000 | |
| Accounts Payable | 7,000 |
D.
| Accounts Payable | 7,000 | |
| Supplies | 7,000 |
E.
| Supplies | 7,000 | |
| Cash | 7,000 |