Examples of cross-holdings include:
I. Japanese keiretsu
II. German Gruppe
III. Australian foundations
IV. Korean chaebol
A) I, II, and IV
B) I, II, and III
C) I and IV
D) All of the above are examples of cross-holdings.
Answer: C
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Which one of the following subsequent events will least likely result in an adjustment to the financial statements?
a. Material change in the amount of settlement of a lawsuit which had been estimated at year end. b. Bankruptcy of a customer who owes your client a material amount on open account at year end for which there is an inadequate allowance estimate. c. Sale of a large block of inventory at a price materially below carrying value. d. Signing of a letter-of-intent by the client to acquire 55% of another entity for stock.
Ryan and Peter share profits in the ratio 3:2. They have decided to liquidate the partnership. The accounts payable were settled at $17,000 due to the poor financial condition of the partnership firm. As a result, Ryan's capital account will be credited by ________.
The balance sheet of Ryan and Peter's partnership as of December 31, 2018, is given below.
A) $10,200
B) $9000
C) $1800
D) $3000
A corporation declared and issued a 20% stock dividend on October 1. The following information was available immediately prior to the dividend: Retained earnings$810,000?Shares issued and outstanding 66,000?Market value per share$21?Par value per share$5?The amount that contributed capital will increase (decrease) as a result of recording this stock dividend is:
A. $0. B. $(66,000). C. $(277,200). D. $66,000. E. $277,200.
Which U.S. Census publication gives statistics such as industry outputs, inputs, and operating data on manufacturing activity, by industry groups?
A. Current Industrial Report B. Annual Survey of Manufacturers C. County Business Patterns D. Service Annual Survey