?A long-term view, or vision, of what the organization wants to become is called a mission proclamation.
Answer the following statement true (T) or false (F)
False
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Mobile Power Corp reported the following information for the year ended December 31, 2016. Revenue $ 40,000 Expenses 23,000 Dividends 10,000 Retained earnings at December 31, 2016 175,000 What was the retained earnings balance for Mobile Power at December 31, 2015?
a. $ 165,000 b. $ 168,000 c. $ 182,000 d. $ 192,000
Under the provisions of FASB ASC Topic 825 (Financial Instruments),
a. the election of the fair value option for investment securities classified as available-for-sale securities would result in unrealized gains and losses on these securities being included in other comprehensive income. b. the election of the fair value option for investment securities classified as trading securities would result in unrealized gains and losses on these securities being included in other comprehensive income. c. the election of the fair value option for investment securities classified as held-to-maturity securities would result in unrealized gains and losses on these securities being included in earnings in the income statement. d. the election of the fair value option for investment securities currently classified as trading, available-for-sale, or held-to-maturity is not available and can only be applied to new securities that an entity purchases.
Pasha Company produced 50 defective units last month at a unit manufacturing cost of $30. The defective units were discovered before leaving the plant. Pasha can sell them "as is" for $20 or can rework them at a cost of $15 and sell them at the regular price of $50. Which of the following is not relevant to the sell-or-rework decision?
A) $30 manufacturing cost B) $20 selling price of defective units C) $15 for rework D) $50 regular selling price E) all are relevant
Eurocredits are bank loans that are denominated in the currency of a country other than where the lending bank is located.
Answer the following statement true (T) or false (F)