The governance of a corporation includes the roles and responsibilities of the board of directors, managers, shareholders, and auditor.
Answer the following statement true (T) or false (F)
True
All of these stakeholders determine how a company is operated.
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In brainstorming, group members try to generate a large number of diverse ideas without criticism from other members
Indicate whether the statement is true or false
Where the equal dignity rule applies, contracts for the sale of goods under $500 are given equal
dignity and must also be in writing in order to be enforceable. Indicate whether the statement is true or false
Cascade Corporation began business operations and experienced the following transactions during Year 1:1) Issued common stock for $20,000 cash2) Provided services to customers for $80,000 on account3) Incurred $36,000 of operating expenses on account4) Collected $46,000 cash from customers5) Paid $30,000 on accounts payableRequired:Record the above transactions on a horizontal statements model to reflect their effect on Cascade's financial statements. In the last column, enter OA, IA, or FA for the type of cash flow activity, if applicable.
What will be an ideal response?
Consider the case of a business that has had a very profitable year and earned a million dollars in profits. Can it distribute a million dollars to its owners (via dividends)?
A) Yes, definitely B) Maybe, maybe not C) Definitely not D) It can certainly distribute over a million dollars.