In the partnership form of business, the owners are called stockholders.
Answer the following statement true (T) or false (F)
False
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Effective information has all of the following characteristics except
a. relevance b. completeness c. summarization d. structure
The most recent balance sheet and income statement of Oldaker Corporation appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$31 $29 Accounts receivable 73 79 Inventory 44 45 Property, plant and equipment 728 590 Less accumulated depreciation 253 242 Total assets$623 $501 Liabilities and stockholders' equity: Accounts payable$56 $63 Accrued liabilities 21 22 Income taxes payable 26 28 Bonds payable 121 110 Common stock 33 30 Retained earnings 366 248 Total liabilities and stockholders' equity$623 $501 Income Statement?Sales$921Cost of goods sold 575Gross margin 346Selling and administrative expense 117Net operating income229Income taxes
69Net income $160The company paid a cash dividend of $42 and it did not dispose of any property, plant, and equipment. The company did not retire any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.The net cash provided by (used in) operating activities for the year was: A. $168 B. $8 C. $229 D. $152
The balance in Accounts Receivable at the beginning of the year amounted to $2000. During the year, $7520 of credit sales were made to customers. If the ending balance in Accounts Receivable amounted to $1300, and uncollectible accounts expense amounted to $520, what is the amount of cash inflow from customers that would appear in the operating activities section of the cash flow statement?
A. $7520 B. $9520 C. $7700 D. None of these answers are correct.
In the IS Lite model the development of Web site standards and operations is an example of the:
A) outsource model. B) federal model. C) decentralization model. D) None of the above