The system that provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA), is referred to as the
A. Standard Industrial Code System (SICS).
B. United Nations Central Product Classification System (UNCPCS).
C. Federal System of International Organizations (FSIO).
D. North American Industry Classification System (NAICS).
E. National Codes of Industry System (NCIS).
Answer: D
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Fashion Company reported the following: Common stock, $3 par, 10,000 shares authorized, 5,000 shares issued and outstanding What is the effect of a 10% stock dividend if the market price of the common stock is $30 per share when the dividend is declared?
a. Retained earnings in the amount of $15,000 is transferred to the contributed capital accounts. b. Cash decreases $30,000. c. Additional Paid-in Capital decreases $30,000. d. A stock dividend has no effect on any stockholders' equity accounts.
The title should be very brief; it does not need to communicate what the report is about; the reader will have the full report to accomplish this goal. Rather, titles serve to identify one report from another
Indicate whether the statement is true or false
If the federal government has chosen not to regulate an area of commerce despite possessing the Commerce Clause powers to regulate it, the area is subject to the Dormant Commerce Clause.
Answer the following statement true (T) or false (F)
Total payroll for a given week is $34,000. If 70 percent of the company's employees typically qualify to receive two weeks' paid vacation per year (50 weeks), the entry to record estimated liability for vacation pay for the week is
A) Estimated Liability for Vacation Pay 2,380 Cash 2,380 B) Vacation Pay Expense 1,360 Cash 1,360 C) Vacation Pay Expense 952 Estimated Liability for Vacation Pay 952 D) Cash 476 Estimated Liability for Vacation Pay 476