Rationalized and impersonal rules that bind different organizations through belief in their legitimacy are known as ________________.
a. Impersonal rules
b. Legitimating rules
c. Rationalized rules
d. Rule theorem
c. Rationalized rules
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On January 1, 2015, Leslie Co issued $100,000 of 8% ten-year bonds at 97. Issuance costs amounted to $2,000. On July 1, 2020, all of the bonds were called at 103. What was the loss on bond retirement, assuming the use of straight-line amortization?
A) $1,950 B) $2,500 C) $4,200 D) $4,350
Achieving successful influence does not necessarily require having ________ over the individual(s) you seek to influence.
Fill in the blank(s) with the appropriate word(s).
Sigma Company suffers a loss to its building in a fire and spends $100,000 on repairs and improvements. It judges that $80,000 of the expenditure replaces long-lived assets lost in the fire, and $20,000 represents improvements to the building. Which of the following is the single journal entry that Sigma Company will make?
a. Building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000 b. Loss from Fire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000 c. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000 Building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000 Loss from Fire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000 d. Building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000 Loss from Fire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000 e. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000 Loss from Fire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000
Most publicly traded firms operate as corporations. Which of the following is/are not true?
a. The corporate form facilitates the transfer of ownership interests because owners can sell their shares without affecting the ongoing operations of the firm. b. The transfer of ownership interests is a transaction between shareholders and does not involve the firm whose shares change hands. c. Investors make capital contributions under a contract between themselves and the corporation. d. The corporation has legal status separate from its owners. e. none of the above