The Securities and Exchange Commission creates regulations governing the purchase and sale of securities.
Answer the following statement true (T) or false (F)
True
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Which of the following would be included in cash and cash equivalents on the balance sheet?
A) ?Travel advance funds B) ?Undeposited credit card sales receipts C) ?Postdated checks D) ?Certificates of deposit
The ________ technique used for stimulating creativity identifies a problem and then considers the dimension, the medium, and the power source
A) attribute listing B) reverse assumption analysis C) mind mapping D) lateral marketing E) morphological analysis
Hassock Corp. produces woven wall hangings. It takes 2 hours of direct labor to produce a single wall hanging. Hassock's standard labor cost is $12 per hour. During August, Hassock produced 10,000 units and used 21,040 hours of direct labor at a total cost of $250,376. What is Hassock's labor efficiency variance for August?
A. $14,584 unfavorable. B. $12,480 unfavorable. C. $10,376 unfavorable. D. $12,480 favorable. E. $4,160 favorable.
Nick and Rodrigo form NRC Partnership by combining the assets of their respective businesses. Nick contributes $10,000 cash and assets worth $90,000 (adjusted basis of $60,000) for a 1/3 interest. Rodrigo contributes $90,000 cash and assets worth $270,000 (adjusted basis of $150,000) for a 2/3 interest. NRC also assumes $60,000 of debt on Rodrigo's assets. What is Rodrigo's basis in his partnership interest?
A. $180,000 B. $220,000 C. $240,000 D. $300,000 E. $360,000