The power to merge is conferred by statute.
Answer the following statement true (T) or false (F)
True
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Payment is made for land purchased earlier on credit. For this transaction, identify the effect on the accounting equation
a. Assets increase and liabilities increase. b. Assets increase and stockholders' equity increases. c. Liabilities increase and stockholders' equity decrease. d. Liabilities decrease and assets decrease.
When upset with someone or something at the workplace, the best place to vent your frustrations is where?
A) In an anonymous email B) On your Twitter feed C) On the corporate blog D) At home E) At after work social setting
Which of the following is not one of the elements used to define American cultural and business context?
a. cultural looseness b. individualism c. isolationism d. universalism
Which of the following is not true?
a. Acquisition cost for a merchandising firm includes the costs incurred to purchase and transport the inventory prior to sale. b. Acquisition cost for a manufacturing firm includes the direct material, direct labor, and manufacturing overhead cost to produce the inventory. c. If the market values of inventory items decline below acquisition cost prior to sale, firms must reduce their balance sheet carrying values using the lower of cost or market method. d. U.S. GAAP uses a combination of replacement cost and net realizable values to measure market value. e. U.S. GAAP and IFRS permits firms to remeasure inventories upward when market value exceeds acquisition cost.