A firm whose primary business is in a line of regional grocery stores would be most likely to have to include which of the following facts, if true, in the firm's management discussion and analysis (MD&A)?
A) that a large number of funds were allocated to advertising to increase awareness of the firm's brand in new areas it had expanded into this year
B) that some senior members of the management team have retired in this financial year
C) that the company has lost a class action suit brought against the firm by its employees and is expected to have to pay a large amount of damages
D) that the firm has plans to expand into the organic food business in the next financial year by purchasing several small organic food retailers
Answer: C
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The last step in the posting process is
a. writing the date of the transaction in the account's Date column. b. writing the amount of the transaction in the Debit or Credit column, and entering the new balance in the Balance columns under Debit or Credit. c. writing the page number of the journal in the Post. Ref. column of the ledger account. d. recording the ledger account number in the Post. Ref. column of the journal.
What was the adjusted book balance?
The following information is needed to reconcile the cash balance for Gourmet Catering Services. * A deposit of $5,800 is in transit. * Outstanding checks total $1,200. * The book balance is $6,400 at February 28, 2019. * The bookkeeper recorded a $1,700 check as $17,200 in payment of the current months rent. * The bank balance at February 28, 2019 was $15,640. * A deposit of $200 was credited by the bank for $2,000. * A customers check for $3,400 was returned for nonsufficient funds. * The bank service charge is $60. A) $18,500 B) $18,440 C) $18,560 D) $15,700
Authorized shares represent the:
A) number of previously issued shares that have been repurchased by the corporation. B) number of shares that the corporation has sold. C) number of shares that are currently held by stockholders. D) maximum number of shares of stock that a company can legally issue.
In a case of personal injury due to an accident, the statute of limitations begins to "run" at the time the accident occurs
Indicate whether the statement is true or false