Answer the following statements true (T) or false (F)
Post-earnings-announcement drift refers to the fact that it takes up to 90 days for security prices to react significantly to earnings announcements.
ANSWER: F
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The following items were reported on the balance sheets and income statement for the Flying Mullet Company: Accounts receivable, December 31, 2015 $ 85,000 Accounts receivable, December 31, 2016 98,000 Sales—2016 750,000 How would the change in accounts receivable be reported in the operating activities section of the statement of cash flows under the indirect method?
a. As an addition to sales b. As a deduction from sales c. As an addition to net income d. As a deduction from net income
On October 27, Able Graphics received a $540 utility bill for the current month's electricity. It is not due until the end of the next month which is when the bill will be paid. Which of the following general journal entries will Able Graphics make on October 27 to record this transaction?
A.
| Cash | 540? | |
| Utilities Expense | 540? |
B.
| Utilities Expense | 540? | |
| Cash | 540? |
C.
| Utilities Expense | 540? | |
| Accounts Payable | 540? |
D.
| Accounts Payable | 540? | |
| Utilities Expense | 540? |
E.
| No journal entry is required | ||
Which Act was passed by Congress on July 30, 2002 and signed by the president for the protection of whistleblowers??
A) ?Sarbanes-Oxley Act B) ?National Labor Relation Board C) ?Occupational Safety and Health Act D) ?Wage Act
QuickBooks lists include:
A. Item List B. Customer List C. Vendor List D. All of the choices are correct