In the United States, financial statements are prepared following the Financial Accounting
Standards Board's generally accepted accounting principles (GAAP).
Indicate whether the statement is true or false
TRUE
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Companies are implementing open information systems that can be linked to other systems owned by business partners such as suppliers and clients.
Answer the following statement true (T) or false (F)
Synthesized material that is reframed for general readers is a _____ source of research
A) tertiary B) secondary C) qualitative D) quantitative E) primary
On February 15, Jewel Company buys 7,000 shares of Marcelo Corp. common stock at $28.53 per share. The stock is classified as a stock investment with insignificant influence. This is the company's first and only stock investment. On March 15, Marcelo Corp. declares a dividend of $1.15 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $29.30 per share. The journal entry to record the sale of the 3,500 shares of stock on November 17 is:
A. Debit Cash $102,550; credit Long-Term Investments-Trading $99,855; debit Gain on Sale of Long-Term Investments $2,695. B. Debit Cash $102,550; debit Loss on Sale of Stock Investments $2,445; credit Stock Investments $104,99. C. Debit Cash $102,550; credit Long-Term Investments-AFS $100,055; credit Gain on Sale of Long-Term Investments $2,495. D. Debit Cash $102,550; credit Long-Term Investments-Trading $99,855; credit Gain on Sale of Long-Term Investments $2,695. E. Debit Cash $102,550; credit Stock Investments $99,855; credit Gain on Sale of Stock Investments $2,695.
The term ________ refers to any oral or written words outside the four corners of a written contract.
A. concurrent condition B. parol evidence C. merger clause D. implied condition