Which approach to ethical reasoning has as one of its central tenets that happiness is defined as presence of pleasure and absence of pain?
A. end-result ethics
B. social context ethics
C. personalistic ethics
D. duty ethics
Answer: A
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The board of directors declared a $2 per share cash dividend on common stock and the corporation had 5,000 shares authorized and 4,000 shares outstanding and make a journal entry. The journal entry for the dividend payment would be
a. a debit to Cash Dividends for $8,000 and a credit to Common Dividends Payable for $8,000. b. a debit to Cash Dividends for $10,000 and a credit to Common Dividends Payable for $10,000. c. a debit to Cash Dividends Payable for $8,000 and a credit to Cash for $8,000. d. a debit to Cash Dividends Payable for $10,000 and a credit to Cash for $10,000.
Exhibit 13-03 ? On January 1, 2017, Train, Inc accepted an $80,000, non-interest bearing 3 year note in exchange for equipment it sold to Steam Company. Train originally purchased the equipment for $125,000, and it had a book value of $75,000 on the date of the sale. The note was non-interest-bearing. An assumed 11% interest rate is implicit in the agreement. Actual information for 11%, three
periods, follows: ? Present value of 1 0.73119 Present value of annuity of 1 2.44371 ? ? Refer to Exhibit 13-03. What amount would Train show as the balance for Discount on Notes Receivable on December 31, 2018? A) $7,928 B) $7,142 C) $15,071 D) $64,929
Under the database approach, data is viewed as proprietary or owned by users
Indicate whether the statement is true or false
When auditing financial hedges, the auditor should understand the product, identify relevant risks and controls, and understand the appropriate accounting
a. True b. False Indicate whether the statement is true or false