Without the opportunity to communicate, people will be unable to establish cohesive work groups.
Answer the following statement true (T) or false (F)
True
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Central Investments bought 4,000 shares of Benet Company common stock on January 1, 2018, for $20,000, and 4,000 shares of Roy Company common on July 1, 2018, for $24,000. Benet declared dividends on December 31, 2018 of $3,000. At the end of 2018, the fair value of Roy was $30,000 and the fair value of Benet was $28,000. At the end of 2019, the fair value of Roy was $32,000 and the fair value of Benet was $24,000. These investments are reported in the long-term asset section of Central's balance sheet. Central owns 8% of Benet Company and 12% of Roy Company.How much income was reported on the 2018 income statement?
A. $14,240 B. $0 C. $14,000 D. $240
[APPENDIX] Which of the following statements regarding partnerships is true?
a. Partnerships have two owners. b. The partnership ends when a new partner is added. c. The partnership is responsible for its own taxes. d. The partnership is a separate legal entity from its owners.
"Check all that apply" questions are really dual-choice categorical response questions
Indicate whether the statement is true or false
Which of the following statements is TRUE of process costing?
A) It uses one Work-in-Process Inventory account. B) It tracks and assigns both period costs and product costs to units produced. C) It accumulates product costs by production departments. D) It assigns manufacturing overhead costs to products only in the last production process.