The principal accounting officer of a company is called a public accountant.
Answer the following statement true (T) or false (F)
False
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A corporation has 50,000 shares of $25 par stock outstanding that has a current market value of $150 per share. If the corporation issues a 5-for-1 stock split, the market value of the stock after the split will be approximately
a. $25 b. $150 c. $5 d. $30
What differentiates mathematically derived scales from the other non-comparative scaling techniques?
What will be an ideal response?
Northbrook Corporation issued $60,000 bonds payable to acquire Machinery. The journal entry to record the transaction is:
a. Machinery 60,000 Cash 60,000 b. Machinery 60,000 Bonds Payable 60,000 c. Bonds Payable 60,000 Machinery 60,000 d. Cash 60,000 Bonds Payable 60,000
A company has two inspectors, each earning a salary of $75,000. One inspector works exclusively on inspecting parts received from outside suppliers, while the other spends 30 percent of her time inspecting parts and 70 percent of her time inspecting final products. How much labor cost should be assigned to the activity, inspecting parts?
A) $100,000 B) $95,000 C) $97,500 D) $96,275 E) $75,000