The elements that make up an organizational system are referred to as entities
Indicate whether the statement is true or false
TRUE
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Which of the following is not true regarding stock rights?
a. U.S. GAAP does not require recognition of the rights on the date of the grant. b. The granting of stock rights to current shareholders requires several accounting entries. c. Shareholders may exercise the stock rights or sell them to others. d. IFRS does not require recognition of the rights on the date of the grant. e. When holders exercise the stock rights, the firm records the issue of shares at the price paid just as it records the issue of new shares for cash.
Major factors used by companies in creating a culture of openness, honesty, and assistance include:
a. whistleblower hotlines. b. fraud awareness training. c. accounting and/or analytical anomalies. d. not performing criminal background checks.
Tennis Pro, a Virginia corporation domiciled in Virginia, has the following items of income: $5,000 of dividend income, $15,000 of interest income, $10,000 of rental income from Georgia property, and $30,000 of royalty income for an intangible used in Maryland (where income tax nexus exists). Determine how much income is allocated to Virginia.
What will be an ideal response?
Monolithic Lumber has purchased timber from Bunyan Axe, the same wholly-owned subsidiary, for the last two centuries and plans to do so for another two centuries. It is crucial that Monolithic continue to demonstrate an agile company scope
Indicate whether the statement is true or false.