Of the four organizational levels, the corporate level is likely to take which of the following decisions?
A) entering a new market
B) resource allocation for each product
C) strategic plan for individual business units
D) choosing specific suppliers for each business unit
E) marketing plan for each product
A
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Which of the following is not a cash outflow from an operating activity?
a. a withdrawal by the owners; b. a payment for the acquisition of inventory; c. a tax payment to the government; d. a payment for interest on a loan; e. the payment of wages.
Which of the following are characteristics of an extraordinary item?
a. Unusual in nature b. Infrequent in occurrence c. Material in amount d. All of the above
The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash$1400? Accounts Receivable$950? Dividends 700? Common Stock 1175? Land 1000? Revenue 1000? Accounts Payable 550? Expense 650? Retained earnings 1975? What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1?
A. $3350. B. $4350. C. $4050. D. $2400.
Alex is a shareholder of Brick & Mortar Retail Corporation. For the last few years, business has not been profitable for Brick & Mortar. The firm has lost money on its operations. There has been some profit through sales of company assets, but the board
of directors has refused to declare a dividend. This last year, the firm's accountants failed to file fed¬eral in¬come tax returns and the board refused to pay the tax. Alex takes a close look at the firm and protests to the board, in particular over the fail¬ure to declare a dividend, but the board ignores the complaint. Which of these events, if any, would form a ground for a court to order the dissolu¬tion of Brick & Mortar, on Alex's petition? If the court denies the petition, could Alex and the other shareholders dissolve Brick & Mortar?