Which of the following would be an example of the application of the next major technological opportunity for organizations?
A. Boeing's 747
B. Toyota's hybrid vehicles
C. Budweiser's non-alcoholic beer
D. SpaceX's reusable space vehicle
Answer: D
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A building costing $550,000 with accumulated depreciation of $225,000 was sold for $275,000 cash. Which of the following statements is correct with respect to preparing the cash flow statement if the indirect method is being used?
A. $50,000 will be added to net income to determine cash flow from operating activities and $325,000 will be reported as a cash outflow in the investing activities section. B. $50,000 will be deducted from net income to determine cash flow from operating activities and $275,000 will be reported as a cash inflow in the investing activities section. C. $275,000 will be added to net income to determine cash flow from operating activities and $325,000 will be reported as a cash outflow in the investing activities section. D. $50,000 will be added to net income to determine cash flow from operating activities and $275,000 will be reported as a cash inflow in the investing activities section.
Which of the following is the most useful aid to the accountant in preparing closing entries?
A) Journal B) Financial statements C) Ledger D) Work sheet
In the stages of career development, the ______ stage is the period of time during which the individual seeks personal satisfaction and to continue advancement.
A. maintenance B. exploration C. disengagement D. establishment
Which of the following is not true?
a. Comprehensive income equals the net amount of revenues, expenses, gains, and losses during an accounting period. b. Authoritative guidance classifies revenues and expenses arising from a firm's core business as components of net income. c. Net income includes gains and losses from sales or exchanges of assets or settlements of liabilities related incidentally or peripherally to the firm's core business. d. Authoritative guidance classifies gains and losses from the remeasurement of certain assets and liabilities as either net income or other comprehensive income. e. The FASB's and IASB's conceptual framework contains a conceptual model for classifying items in net income versus in other comprehensive income.