Examples of revenue accounts include all of the following except:
a. Delivery Fees.
b. Wages.
c. Professional Fees.
d. Sales.
e. Medical Fees.
b
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Arco Corporation declared a cash dividend on June 2 of $6 per common share. The company has 2,000 shares of common stock authorized, 1,000 shares issued, and 200 in the treasury. The entry to record the declaration of the cash dividend increases
a. a liability. b. an asset. c. an expense. d. a stockholders' equity account.
Barksdale Manufacturing Inc produces its products in batches containing 100 units. Barksdale randomly samples 15 of the units in each batch for quality control. The costs of performing these random sample tests would most likely be which type of quality cost?
A) External failure cost B) Prevention cost C) Internal failure cost D) Appraisal (detection) cost
Esther is the CEO of a line of accessories and cosmetics, Starring Me! Inc., which has retail stores and production units in five countries. In this scenario, Starring Me! Inc. is most likely a
A. nationalized firm. B. multinational enterprise. C. nonprofit organization. D. sole proprietorship.
Phuong has the following sources of investment income:Money market account interest$2,000Interest on State of New York bond1,000Dividends from domestic stocks3,000Long-term capital gain4,000Short-term capital gain5,000Barring any special elections, how much of the investment income will be included in calculating net investment income for purposes of the investment interest expense limitation?
A. $5,000 B. $7,000 C. $15,000 D. $2,000