Ed, a vice-president of Palmette Products, Inc, buys 1,000 shares of his company's stock on June 15 . His son has medical problems in September, and Ed sells the stock at a profit. Under Section 16, Ed
a. must turn over to Palmette any profits he made on the sale.
b. may keep any profits on the sale since he had a good reason to sell and was not selling in order to manipulate the market.
c. may keep the profits from the sale as long as he reported his sale to the SEC within two business days.
d. may keep any profits from the sale if he did not act on secret information when he sold the shares.
a
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TQM has two core principles:
A. Employee commitment and customer satisfaction. B. Financial health and financial stability. C. People orientation and improvement orientation. D. Management and leadership. E. Radical innovation and continuous improvement.
When we refuse to support a gender-based definition, we in effect participate in which of the following?
A. redefinition B. social identity model of de-individuation effects C. perceptual constancy D. figure-ground principle
Tropical Co declared a cash dividend of $30,000 . The entry includes a(n)
a. decrease to Cash of $30,000. b. increase to Retained Earnings of $30,000. c. decrease to Retained Earnings of $30,000. d. decrease to Cash Dividend Payable of $30,000.
Orlov Corporation purchased 22,000 shares of Matsey Corporation common stock for $40 per share on January 1, 2009 . Matsey reported net income of $120,000 for 2009 and paid dividends of $45,000 during 2009 . As of December 31, 2009, the market value of Matsey Corporation common stock was $39 per share. Assuming the shares owned by Orlov represent 10 percent of the total outstanding stock of
Matsey, the year end adjustment entry in Orlov Corporation's books is: a. Cash 22,000 Dividend Income 22,000 b. Cash 22,000 Long-Term Investments 22,000 c. Unrealized Loss on Long-term Investments 22,000 Allowance to Adjust Long-Term Investments to Market 22,000 d. Loss on Long-Term Investments 22,000 Allowance to Adjust Long-Term Investments to Market 22,000