A corporation in which the shares are held by one shareholder or a small group of shareholders and the stock is not actively traded is a:
a. nonprofit corporation b. small corporation
c. limited corporation d. shared corporation
e. none of the other choices are correct
e
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Outstanding shares of stock are
A) authorized shares that have not yet been issued. B) also called treasury shares. C) issued shares that have not yet been authorized. D) issued shares that are still in circulation.
When an agent terminates an agency arrangement, the agent's action is called:
A) Rejection of authority. B) Reaffirmation of authority. C) Reacquisition of authority. D) Revocation of authority. E) Renunciation of authority.
Because financial institutions in other countries are generally less regulated than those in the United States, they generally _____.
A. invest in less socially responsible companies than U.S. banks B. can provide businesses a greater variety of services than U.S. banks can C. invest to minimize investment corporations' losses D. can provide investment opportunities in illegal business plans also E. are required to fulfill the regulations of the Sarbanes-Oxley Act
Krepps Corporation produces a single product. Last year, Krepps manufactured 20,000 units and sold 15,000 units. Production costs for the year were as follows: Direct materials$170,000Direct labor$110,000Variable manufacturing overhead$200,000Fixed manufacturing overhead$240,000Sales totaled $825,000 for the year, variable selling and administrative expenses totaled $108,000, and fixed selling and administrative expenses totaled $165,000. There was no beginning inventory. Assume that direct labor is a variable cost.Under absorption costing, the ending inventory for the year would be valued at: (Round your intermediate calculations to 2 decimal places.)
A. $180,000 B. $0 C. $216,000 D. $248,250