What is a 10-K report? How do investment analysts use the 10-K?
What will be an ideal response?
The 10-K is a report filed by a public company each year with the Securities and Exchange Commission (SEC). It is much longer and more detailed than the annual report to stockholders. Professional investment analysts use the 10-K report as the backbone of their research into company operations. The report is provided free to shareholders, if they formally request it, and may be provided free to non-shareholders.
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Which of the following would not be an elimination on a work sheet for a consolidated income statement?
a. Debit Cost of Goods Sold and credit Sales. b. Debit Interest Income and credit Interest Expense. c. Debit Common Stock and Retained Earnings and credit Investment in Subsidiary. d. Debit Sales and credit Cost of Goods Sold.
The balance of the account can be determined by adding all of the debits, adding all of the credits, and adding the amounts together
Indicate whether the statement is true or false
A(n) ________ is a patent granted to protect new and original blueprint of an article of manufacture
A. copyright B. utility patent C. plant patent D. design patent
Luckman Corporation bases its budgets on the activity measure customers served. During July, the company plans to serve 32,000 customers. The company has provided the following data concerning the formulas it uses in its budgeting: Fixed elementper monthVariable element per customerRevenue - $3.70 Wages and salaries$29,300 $1.10 Supplies$0 $0.70 Insurance$8,400 $0.00 Miscellaneous expense$4,600 $0.30 ?Required:?Prepare the company's planning budget for July.
What will be an ideal response?