Which of the following would not be a taking for purposes of eminent domain?
A) The condemnation of land for use in a low-income housing project
B) The requirement that beach-front land owners allow public access to the beach through their lots
C) The placement of a 4" × 6" cable box on the roof of an apartment building by a public cable firm
D) All of the above are takings.
D
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During its first year of operations, a company granted employees vacation privileges and pension rights estimated ata cost of $21,500 and $15,000 . The vacations are expected to be taken in the next year and the pension rights areexpected to be paid in the future 5–30 years. What is the total cost of vacation pay and pension rights to berecognized in the first year?
a. $15,000 b. $36,500 c. $6,500 d. $21,500
The amount of earnings distributed to stockholders can be found in the income statement
a. True b. False Indicate whether the statement is true or false
Each full-time employee of Hydroponics Greenhouse is entitled to ten paid sick days each year. The sick pay is not vested, but any unused sick days can be carried over to subsequent years. Under FASB ASC Topic 710, Hydroponics Greenhouse should
a. recognize sick pay as an expense when actually paid. b. recognize an estimated current liability for unused sick pay at the end of each period. c. recognize an estimated noncurrent liability for unused sick pay at the end of each period. d. accrue or not accrue sick pay based on historical rates of absenteeism.
Which of the following is an example of an exculpatory clause?
a. Creditor charges 38% interest on a loan. b. Seller is not responsible for property damage regardless of the cause of the injury. c. Buyer agrees to pay any costs of litigation. d. Employee agrees to never work for a competing company.