Sullivan and Taylor want to form a corporation to provide catering services. The first step in the incorporation procedure is to
A. file the articles of incorporation.
B. hold the first organizational meeting.
C. secure a corporate name.
D. select a state in which to incorporate.
Answer: D
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Tomas and Saturn are partners who share income in the ratio of 3:1 . Their capital balances are $80,000 and $120,000, respectively. Income Summary has a credit balance of $30,000 . What is Tomas's capital balance after closing Income Summary to the capital accounts?
a. $102,500 b. $22,500 c. $57,500 d. $127,500
The acquisition cycle begins with which of the following?
a. A payment. b. A purchase order. c. A requisition. d. A receiving report.
A speech in which you began by discussing the percentage of drivers during a particular period of time who were drunk when involved in car accidents and then discussed number of deaths each year attributed directly to driving under the influence of alcohol, would be using which organizational pattern?
a. Topical b. Cause-and-effect c. Chronological d. Spatial
Lots that are expected to be received in a particular period are ______.
A. planned order receipts B. scheduled receipts C. planned lot receipts D. planned inventory receipts