Match the following terms with the appropriate definition.A. Plant assetsB. Stockholders' equity C. Classified balance sheetD. Intangible assetsE. Current ratioF. Closing entriesG. Current liabilitiesH. Long-term investmentsI. Current assetsJ. Unclassified balance sheet____ 1. The owners' claims on the assets of a company.____ 2. Tangible assets that are long-lived and used to produce or sell products or services.____ 3. Cash and other resources that are expected to be sold, collected, or used within one year or the company's operating cycle, whichever is longer.____ 4. Entries recorded at the end of each accounting period to transfer end-of-period balances in revenue, expense, and dividends accounts to the permanent retained earnings account.____ 5. Long-term resources that benefit
business operations, usually lack physical form, and have uncertain benefits.____ 6. Assets that are held for more than the longer of one year or the operating cycle of the company and are not used in operations.____ 7. A balance sheet that organizes the assets and liabilities into important subgroups that provide more information to decision makers.____ 8. Obligations due to be paid or settled within one year or the operating cycle of a business, whichever is longer.____ 9. A balance sheet that broadly groups items into assets, liabilities and equity.____10. A ratio that is used to help evaluate a company's ability to pay its short-term obligations, calculated by dividing current assets by current liabilities.
What will be an ideal response?
1. B; 2. A; 3. I; 4. F; 5. D; 6. H; 7. C; 8. G; 9. J; 10, E
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According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security taxand $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000 . Also, $15,000 wassubject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salaries wouldinclude a
a. debit to Salary Payable of $450,000 b. credit to Salary Payable of $500,000 c. debit to Salary Expense of $500,000 d. credit to Salary Expense of $450,000
Which statement best reflects the issues associated with the computation of diluted earnings per share?
A) Diluted earnings per share represent the potential impact of all shares of common stock. B) When presenting comparative financial statements, the impact of convertible bonds must be included for both years. C) Common stock options are considered dilutive when the average market price is greater than the option price. D) The impact on the denominator is always the determinate of whether or not to use diluted earnings per share.
An intermediary who ________ legally owns the goods being handled.
A. infringes on copyright B. takes title C. takes consignments D. breaks bulk E. creates assortments
In a bad-news message, what will help the audience feel good about the writer, the situation, and themselves?
A) Limited criticism B) An active voice C) Effective buffers D) Tone and style E) Courteous closes