If a corporation issues 1,000 shares of $1 par value common stock at $5 per share, how should the transaction be accounted for?
a. debit cash for $5,000 and credit common stock for $5,000
b. debit cash for $5,000 and credit common stock for $1,000 and credit additional paid-in capital for $4,000
c. debit cash for $5,000 and credit common stock for $1,000 and credit retained earnings for $4,000
d. credit cash for $5,000 and debit common stock for $5,000
e. debit common stock for $1,000 and debit retained earnings for $4,000 and credit cash for $5,000
B
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A group of Walmart employees in Raleigh, NC staged a 5-minute flash mob protest over low wages and working conditions at their store. At the end of the demonstration, they handed the manager a signed petition. Which of the following is true?
A. The employer can fire the workers. B. The employees actions are illegal because they do not have formal union representation. C. The employees' actions are legal because they are acting together to influence their working conditions. D. The employer can only fire the workers if they don't formally join or create a union.
Horizontal analysis is also known as:
A. Variance analysis. B. Liquidity analysis. C. Revenue analysis. D. Trend analysis.
The U.S. Department of Education has found that less than half of all high school seniors in the U.S. are able to handle basic math involving fractions, decimals, and simple algebra.
Answer the following statement true (T) or false (F)
Amanda was just hired to work for a federal agency in the procurement department. Amanda shops for the best buys possible and thinks she has found a great deal. She returns to her office and tells her supervisor about her discovery. Her boss tells her to be sure that the Buy American Act is satisfied. Amanda decides to research the law. What will she find?
a. That under all circumstances federal agencies must purchase products that are 100% made in the U.S.A. b. That under all circumstances federal agencies must purchase products with at least 75% of the components made in the U.S.A. c. That unless the price is a certain percentage higher than the price of the equivalent foreign product, federal agencies must buy products with at least 50% of the components made in the U.S.A. d. That federal agencies may buy foreign made products so long as it can be established that a representative did comparison shopping and established that the foreign made good is a better deal than the made in the U.S.A. product.