Consumer PMSIs are exceptions to the first-in-time, first-in-right priorities
Indicate whether the statement is true or false
False
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The Michael Company's stockholders' equity accounts have the following balances as of December 31, 2016: Common stock, $20 par (25,000 shares issued of which ? 2,000 are being held as treasury stock) $ 500,000 Additional paid-in capital 750,000 Retained earnings 2,250,000 ? $3,500,000 Less: Treasury stock (2,000 shares at cost) (120,000) ? Total stockholders' equity $3,380,000 ? On
January 2, 2017, the board of directors of Michael declared a 10% stock dividend to be distributed on February 15, 2017. The market price of Michael Company's common stock was $75 per share on January 2, 2017. On the date of declaration, the retained earnings account should be decreased by A) zero; only a memorandum entry is required. B) $50,000. C) $172,500. D) $187,500.
If a management accountant confides to a relative that his or her company has a confidential plan to merge with another company in the near future, the accountant has
a. not violated ethical standards. b. violated ethical standards only if the relative owns stock in the company. c. violated ethical standards because the accountant and relative could stand to gain personally from that information. d. not violated ethical standards because the information was relayed to a family member.
Using Table 7.13, what is the probability that the project will be completed in 65 or fewer weeks?
A) less than or equal to 20% B) greater than 20% but less than or equal to 24% C) greater than 24% but less than or equal to 28% D) greater than 28%
The Revised Act grants dissenters' rights to:
A) a shareholder when any amendment to the articles of incorporation materially and adversely affects that dissenter's rights regarding his shares. B) dissenting shareholders of a corporation leasing substantially all of its assets in the usual course of business. C) dissenting shareholders of each corporate party to a short-form merger. D) All of these.