Policies and procedures are examples of an organization's external environment
Indicate whether the statement is true or false
FALSE
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Garcia Corporation purchased 22,000 shares of Lee Corporation common stock for $80 per share on January 1, 2014. Lee reported net income of $140,000 for 2014 and paid dividends of $90,000 during 2014. As of December 31, 2014, the market value of Lee Corporation common stock was $78 per share. Assuming the shares owned by Orlov represent 10 percent of the total outstanding stock of Lee, the
year-end adjustment entry in Garcia Corporation's books is: A) Cash 44,000 Dividend Income 44,000 B) Cash 44,000 Long-Term Investments 44,000 C) Unrealized Loss on Long-Term Investments 44,000 Allowance to Adjust Long-Term Investments to Market 44,000 D) Loss on Long-Term Investments 44,000 Allowance to Adjust Long-Term Investments to Market 44,000
The return on assets and the asset turnover ratios are used to analyze
A) leverage. B) long-term solvency. C) profitability. D) liquidity.
Sandra, Inc. had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $15 each using the last-in, first-out (LIFO) method. The current replacement cost is $11 per unit. The selling price charged by Sandra, Inc
for each finished product is $18. In order to record the adjusting entry needed under the lower-of-cost-or-market rule, the Cost of Goods Sold will be ________. A) debited by $2,200 B) credited by $2,200 C) debited by $800 D) credited by $800
Which of the following would NOT be classified as value added by the buyer in a merger?
A) The present value of estimated synergies due to the merger. B) The current value of the target firm as a stand-alone entity. C) New value-adding strategies initiated post-merger by the purchasing firm. D) Enhanced credit ratings that develop as a result of the merger.