A subagent is an agent of an agent, not an agent of the principal, so owes no duty to the principal, only to the agent
a. True
b. False
Indicate whether the statement is true or false
False
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The declaration and issuance of a stock dividend does not affect the total amount of a corporation's assets, liabilities, or stockholders' equity
Indicate whether the statement is true or false
Bonds may be purchased directly from the issuing corporation or through one of the bond exchanges
Indicate whether the statement is true or false
Which of the following is most likely to be a mismatch?
a. High cost and high quality b. High customer service and high cost c. Low cost and high quality d. Low cost and low customer service
Holo Company reported the following financial numbers for one of its divisions for the year; average total assets of $5,800,000; sales of $5,375,000; cost of goods sold of $3,225,000; and operating expenses of $1,147,000. Assume a target income of 15% of average invested assets. Compute residual income for the division:
A. $150,450. B. $100,300. C. $196,750. D. $150,500. E. $133,000.