The equity method of accounting is used if the investor owns at least 20% of the investee and the investor is able to secure influence over the investee
a. True
b. False
Indicate whether the statement is true or false
True
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In a post-billing system, invoices are prepared upon acceptance of the customer order
Indicate whether the statement is true or false
Accrued interest on notes payable is interest expense that has been incurred but not paid
Indicate whether the statement is true or false
Which of the following possible actions may discourage an employee to report suspected fraudulent activities?
a. Management promises no prosecution of the individual if guilty. b. Corporate security's number is provided. c. The number of the internal auditor is provided. d. Corporate management stresses that any information provided will be kept confidential.
The liability for general obligation bonds should be recorded in the:
A. Governmental activities journal. B. Capital projects fund. C. Debt service fund. D. General Fund.