Government-wide financial statements help users do all but which of the following?
a. Relate cash receipts and disbursements to the acquisition of long-lived assets.
b. Assess the finances of the government in its entirety, including the year's operating results.
c. Determine whether the government's overall financial position improved or deteriorated.
d. Evaluate whether the government's current-year revenues were sufficient to pay for current-year services.
e. Make better comparisons between governments.
A
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On January 1, 2018, Youder Inc. bought 120,000 shares of Nopple Co. for $384,000, giving Youder 30% ownership and the ability to apply significant influence to the operating and financing decisions of Nopple. Youder anticipated holding this investment for an indefinite time. In making this acquisition, Youder paid an amount equal to the book value for these shares. The fair value of each asset and liability was the same as its book value. Dividends and income for Nopple for 2018 were as follows:Dividends declared and paid: 7,680 Income before income tax provision: 7,680Required:Assume a 40% income tax rate. Prepare all necessary journal entries for Youder for 2018 beginning at acquisition and ending at tax accrual.
What will be an ideal response?
______ is the integration of customer-focused marketing plans for new and existing products with supply chain management.
A. Sales and operations planning B. Demand planning C. Product planning D. Supply planning
Legal fees incurred in connection with a criminal defense are not deductible even if the crime is associated with a trade or business.
Answer the following statement true (T) or false (F)
Five years ago, the State of Oklahoma issued $2,000,000 of 7% coupon, 20-year semiannual payment, tax-exempt bonds. The bonds had 5 years of call protection, but now the state can call the bonds if it chooses to do so. The call premium would be 5% of the face amount. Today 15-year, 5%, semiannual payment bonds can be sold at par, but flotation costs on this issue would be 2%. What is the net present value of the refunding? Because these are tax-exempt bonds, taxes are not relevant.
A. $278,606 B. $292,536 C. $307,163 D. $322,521 E. $338,647