Property insurance companies have more freedom in their investment activities than do life insurance companies
Indicate whether the statement is true or false
TRUE
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GAAP mandates that firms provide a:
A. statement showing inflows and outflows of current assets and current liabilities. B. statement reporting changes in current operations. C. cash flow statement. D. working capital statement.
Freeman Company owns a delivery truck. Which of the following costs, associated with the truck, will be capitalized and depreciated?
A) modification for new use B) oil change and lubrication C) replacement of tires D) normal engine repair
Use the following information to answer the question below. When Calvert Corporation was formed on January 1, 2010, the corporate charter provided for 50,000 shares of $20 par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation: 1 . The corporation issued 200 shares of stock to its lawyer in full payment of the $5,000
bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency. 2 . The company issued 8,000 shares of stock at a price of $25 per share. 3 . The company issued 7,000 shares of stock in exchange for equipment that had a fair market value of $160,000. The entry to record transaction 2 would be: a. Cash 200,000 Common Stock 200,000 b. Cash 200,000 Common Stock 160,000 Additional Paid-in Capital 40,000 c. Cash 160,000 Additional Paid-in Capital 40,000 Common Stock 200,000 d. Cash 160,000 Common Stock 160,000
An advantage of a process layout includes ______.
A. the consistency in processing times from job to job B. the ease of scheduling workflows C. the ability to treat each order as a special case D. its high degree of efficiency