Cash investments made by stockholders in exchange for capital stock in a business are reported on the statement of cash flows in the:
A) financing activities section.
B) investing activities section.
C) operating activities section.
D) supplemental section.
A
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Regardless of the inventory costing system used, cost of goods available for sale must be allocated at the end of the period between
A. net purchases during the period and ending inventory. B. beginning inventory and cost of goods sold. C. ending inventory and beginning inventory. D. beginning inventory and net purchases during the period. E. ending inventory and cost of goods sold.
If a prepayment is a requirement for the receipt of the medical care, the payment is deductible in the year paid rather than the year in which the care is rendered.
Answer the following statement true (T) or false (F)
Refer to the following selected financial information from Shakley's Incorporated. Compute the company's return on total assets for Year 2. Year 2Year 1 Net sales $ 484,000 $ 427,350 Cost of goods sold 277,400? 251,220? Interest expense 10,800? 11,800? Net income before tax 68,350? 53,780? Net income after tax 47,150? 41,000? Total assets 319,300? 294,600? Total liabilities 175,900? 168,400? Total equity 143,400? 126,200?
A. 22.3%. B. 9.7%. C. 15.4%. D. 2.8%. E. 14.8%.
Describing an object in terms of behaviors without concern for how those behaviors are actually implemented is called ________
a) information hiding b) data abstraction c) method construction d) property hiding