A corporation acquired a copyright by issuing 1,000 shares of $5 par common stock. At the time of the exchange, the stock was selling for $40 per share. The copyright had a carrying value of $18,000 to the author. The purchasing corporation should assign to the copyright a value of
A) $18,000.
B) $5,000.
C) $32,000.
D) $40,000.
D
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An accounting system that maintains an adequate audit trail is implementing which internal control procedure?
a. access controls b. segregation of functions c. independent verification d. accounting records
The board of directors of Irondale Corporation declared a cash dividend of $2.50 per share on 57,000 shares of common stock on June 14, 2010 . The dividend is to be paid on July 15, 2010, to shareholders of record on July 1, 2010 . The proper entry to be recorded on June 14, 2010, will be:
a. Dividends 142,500 Dividends Payable 142,500 b. Dividends payable 142,500 Cash 142,500 c. Dividends 142,500 Retained Earnings 142,500 d. Dividends payable 142,500 Dividends 142,500
Visual enhancements in a business document
a. are unnecessary when the writing is effective. b. distract from important information in long, complex documents. c. can be overused and create clutter. d. can be applied easily using word processing features.
The mainpurpose of a production report is to inform a supervisor about subordi-nates' accomplishments ontheir assigned tasks
Indicate whether the statement is true or false