________ is a philosophy of continuous improvement of products and processes
A) Just-in-Time (JIT) Management
B) Enterprise Resource Planning (ERP)
C) Supply Chain Management (SCM)
D) Total Quality Management (TQM)
D
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On January 1, 20X8, Pullman Company acquired 30 percent of Skate Company's common stock, at underlying book value of $100,000. Skate has 100,000 shares of $2 par value, 5 percent cumulative preferred stock outstanding. No dividends are in arrears. Skate reported net income of $150,000 for 20X8 and paid total dividends of $72,000. Pullman uses the equity method to account for this investment.Based on the preceding information, what amount would Pullman Company receive as dividends from Skate for the year?
A. $18,600 B. $21,600 C. $54,000 D. $62,000
Which of the following funds should use the accrual basis of accounting?
A. Enterprise and private-purpose trust funds. B. Permanent funds and internal service funds. C. Special revenue and capital projects funds. D. Debt service and agency funds.
On February 15, Jewel Company buys bonds of Marcelo Corp. for $200,800. The investment is classified as available-for-sale securities. This is the company's first and only investment in available-for-sale securities. On December 31, the bonds had a fair value of $201,900. The entry to record the year-end adjustment is:
A. Debit Fair Value Adjustment-Available-for-Sale $1100; credit Realized Gain-Income $1100. B. Debit Fair Value Adjustment-Available-for-Sale $1100; credit Interest Revenue $1100. C. Debit Fair Value Adjustment-Available-for-Sale $1100; credit Unrealized Gain-Equity $1100. D. Debit Cash $1100; credit Gain on Sale of Investments $1100. E. Debit Cash $1100; credit Dividend Revenue $1100.
Absent a showing of fraud, generally courts will not ‘second guess' directors' right to manage the company
Indicate whether the statement is true or false