Retained earnings:
A. Represents the amount shareholders are guaranteed to receive upon company liquidation.
B. Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception.
C. Can only be appropriated by setting aside a cash fund.
D. Represent an amount of cash available to pay shareholders.
E. Are never adjusted for anything other than net income or dividends.
Answer: B
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When using the direct method, how is the issuance of stock for cash shown on the statement of cash flows?
a. Operating activity b. Investing activity c. Financing activity d. Noncash investing and financing activity
Jordan Co. uses the allowance method of accounting for uncollectible accounts. Jordan Co. accepted a $5,000, 12%, 90-day note dated May 16, from Beckam Co. in exchange for its past-due account receivable. Make the necessary general journal entries for Jordan Co. on May 16 and the August 14 maturity date, assuming that the: a. Note is held until maturity and collected in full at that time.b. Note is dishonored; the amount of the note and its interest are written off as uncollectible.
What will be an ideal response?
Answer the following statement(s) true (T) or false (F)
33. A higher sense of intuition is associated with entrepreneurs who have consistently 34. Calculating affordable lost and taking small actions are both components of The Practice of Entrepreneurship. 35. Researchers found that medical students who used deliberate practice when studying were able to make more proficient use of their time, energy, and resources 36. Expert entrepreneurs who engage in deliberate practice are generally more skilled at understanding the meaning of complex patterns 37. Reflection is the least important entrepreneurial skill. 38. The Practice of Entrepreneurship is about competition rather than collaboration and co-creation. 39. In the entrepreneurial context, risk is absolute.
Warren opened a new computer store in town. When customers purchase a computer from his store, they automatically receive an extended warranty, free in-home installation, access to Warren's 24-hour technical support team, and in-store software training classes. By offering all these things, Warren is most likely trying to
A. discourage ritual consumption. B. encourage an internal information search. C. stimulate problem recognition. D. reduce a new customer's cognitive dissonance. E. increase a new customer's cognitive dissonance.