If transfer prices are to be based on cost, then the costs should be actual costs rather than standard costs.
Answer the following statement true (T) or false (F)
False
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Contessa Company collected $42,000 cash on its accounts receivable. The effects of this transaction as reflected in the accounting equation are:
A. Both total assets and total liabilities decrease. B. Total assets decrease and equity increases. C. Total assets increase and equity decreases. D. Total assets, total liabilities, and total equity are unchanged. E. Both total assets and equity are unchanged and liabilities increase.
B&O Railroad Inc transports industrial products and supplies throughout the North Eastern United States. Selected financial information for B&O is provided in the table below
B&O is considering a stock dividend of 10%, whereby each shareholder of record will receive one additional share for each 10 shares that they own. What will shares outstanding be after the dividend? B&O Railroad Inc Selected Financial Information Stock Price $68 EPS $6.00 Dividends per share $1.24 Payout Ratio 20.66% Shares Outstanding 150M A) 160.5M B) 165.0M C) 165.5M D) 170.5M E) 175.0M
A(n) ____ imposes partnership duties and liabilities upon a nonpartner who has either represented himself or consented to be represented as a partner
A) fiduciary proceeding B) delectus personae C) partnership by estoppel D) accounting
Section 201 of the Trade Act of 1974 provides authority for the president to do what, if barriers to U.S. trade are not lifted?
A) Petition Congress to intervene in the situation B) Threaten military action if the barriers are not lifted C) Use retaliation in the form of duties or quotas D) Pay the U.S. company a subsidy