Liquidating dividends must be charged against the capital stock accounts because the corporation's retained earnings are appropriated for future business expansion.
Answer the following statement true (T) or false (F)
False
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JG Inc. recognized $690,000 ordinary income, $48,000 net Section 1231 gain, and $77,000 net capital loss this year. JG's taxable income is $690,000.
Answer the following statement true (T) or false (F)
To revitalize the downtown area both the merchants and the city plans to spend $1 million dollars on new lighting, walkways and storefronts
What will be an ideal response?
Which of the following generally is considered a limitation of the balance sheet?
a. The balance sheet reflects the current value of a business. b. The balance sheet reflects the instability of the dollar. c. Balance sheet formats and classifications do not vary to reflect industry differences. d. Due to measurement problems, some enterprise resources and obligations are not reported on the balance sheet.
To effectively and efficiently sell the product, what type of salespeople should the company hire?
A) inside sales reps B) outside sales reps C) detail reps D) missionary reps E) direct sales reps