Assume a government is a special-purpose entity engaged in fiduciary activities only. Which of the following financial statements would be required?
A. Statement of Fiduciary Net Position and Statement of Changes in Fiduciary Net Position.
B. Statement of Net Position, Statement of Activities, Statement of Fiduciary Net Position, Statement of Changes in Fiduciary Net Position.
C. Statement of Net Position and Statement of Activities.
D. Statement of Fiduciary Net Position, Statement of Changes in Fiduciary Net Position, and Statement of Cash Flows.
Answer: A
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A strong trend in the training industry is _______, which involves people learning by interacting with other people. Examples are observing others, and sharing expertise thru discussion forums, wikis, and blogs.
Fill in the blank(s) with the appropriate word(s).
Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 20,000 direct labor-hours, total fixed manufacturing overhead cost of $182,000, and a variable manufacturing overhead rate of $2.50 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data:?Total direct labor-hours250?Direct materials$740?Direct labor cost$6,500Required:Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%.
What will be an ideal response?
Fashions, Inc has 12 shareholders. The company is subject to the Model Act. What officers is Fashions, Inc required to have?
a. A president, secretary, and treasurer b. A president and a secretary, and they can be the same person c. A president, at least one vice-president, a secretary, and a chief financial officer d. Whatever officers are described in the corporate bylaws
Which of the following would be an invalid restrictive covenant in a deed?
a. A requirement that all buildings are of a certain style. b. A requirement that all homes contain a double garage. c. An agreement not to sell to African-Americans. d. An agreement requiring a minimum size for homes.