Disgorgement of profits refers to:
A) the prohibition on doing business with the government
B) the repayment of any profits received as a result of corrupt payments.
C) employees being disallowed by companies to be reimbursed.
D)employees being restricted from sharing confidential company information with outsiders.
B
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Indicate whether the statement is true or false
Kotter Mining Company purchases a gravel pit for $2,500,000 . It estimates that 5,000,000 tons of gravel can be extracted over the pit's useful life. If 930,000 tons are extracted and sold during the first year, the entry to record the depletion expense is:
a. Depletion Expense – Gravel pit 465,000 Accumulated Depletion – Gravel pit 465,000 b. Depletion Expense – Gravel pit 116,250 Accumulated Depletion – Gravel pit 116,250 c. Depletion Expense – Gravel pit 232,500 Accumulated Depletion – Gravel pit 232,500 d. Depletion Expense – Gravel pit 348,750 Accumulated Depletion – Gravel pit 348,750
When the Federal Reserve notifies banks that they must hold fifteen cents for every dollar that is
deposited, it is controlling the money supply by using which of the following tools? A) open market operations B) discount rate C) reserve requirements ratio D) risk E) unable to tell with the information provided
The City of Casper levied property taxes for 2017 in the amount of $9,000,000. By the end of the year, $7,200,000 had been collected. It was estimated that $500,000 would be collected during the next 60 days of 2017 and that $240,000 would be collected after that and the remainder would be uncollectible. The City has a policy of recognizing the full amount possible for property taxes. Which of the following statements is true?
A. The amount reported for property tax revenue in the governmental fund Statement of Revenues, Expenditures, and Changes in Fund Balances would be $7,940,000. B. The amount reported for property tax revenue in the government-wide Statement of Activities would be $7,700,000. C. Both of the above. D. None of the above.