Which of the following is reported as a financing activity?
a. Declaration of dividends
b. Sale of preferred stock
c. Conversion of preferred stock to common stock
d. Stock split
b
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When Fred sends in the box top from his cereal to receive a free DVD of a cartoon featuring one of his favorite characters, he is responding to a ________
A) self-liquidating premium B) with-pack premium C) reduced-price pack D) banded pack E) free in-the-mail premium
Failure to make interest payments on debt can force a company into bankruptcy
Indicate whether the statement is true or false
To increase your savings,
A) income must be increased. B) expenses must be increased. C) income must be decreased. D) net worth must be decreased.
When is a credit memo issued?
A) when a customer is approved to purchase items on credit B) when merchandise bought on credit is returned C) when a customer is not approved to purchase items on credit D) when a customer reaches the maximum credit limit