If The Raintree Company has accumulated earnings each year but the directors have not declared dividends for five years, the shareholders may:
a. petition a court of law for redress.
b. override the board by a two-thirds vote.
c. ask for an injunction requiring a dividend to be declared.
d. do nothing but sell their stock.
c
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Of the five major leadership traits discussed in the chapter, which would you claim to be the most important? Which the least important? Support your claim with specific examples from the chapter.
What will be an ideal response?
Vermillion, Inc. has two processes—Dyeing Department and Finishing. The company sold 2,000 bolts of cloth for $220,000, of which $150,000 was sold on account. The total production cost was $385,000 for 5,500 bolts of cloth. The perpetual inventory system and process costing are used.
What are the journal entries to record a sale if the company follows a process costing system?
An overstatement of beginning inventory results in
A) no effect on the period's gross margin. B) an overstatement of gross margin. C) an understatement of gross margin. D) a need to adjust purchases.
According to the Bernstein Hypothesis, all of the following statements are true except:
a. Culture, subculture, social context, and social system are all a part of the social structure. b. Speech emerges in one of two codes. c. Elaborated codes include highly predictable messages. d. Communication transmission channels used in the restricted code would be oral, nonverbal, and paralinguistic.