Even if it has been lawfully and properly declared, a stock dividend may be revoked unless it has been actually distributed
a. True
b. False
Indicate whether the statement is true or false
True
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All of the following are true statements about a corporation except that it
A) must pay state and federal income taxes. B) may engage in any legal activity. C) can enter into legal contracts. D) can continue in perpetuity.
What was the operating income (loss) for the year?
Hendrix & Franks Co. had the following beginning and ending inventory balances for the current year ended December 31: January 1 December 31 Materials $11,000 $ 8,800 Work in Process 19,800 18,700 Finished Goods 23,100 18,150 In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased were $29,700, and selling and administrative costs were $24,200. Hendrix & Franks Co. sold 27,500 units of product during the year at a sales price of $5.25 per unit. A. $18,500 B. $125,000 C. $3,025 D. $2,000
Which of the following is not true regarding Depreciation?
A) Depreciation allocates the cost of a fixed asset over its estimated life. B) Depreciation expense reflects the decrease in market value each year. C) Depreciation is an allocation not a valuation method. D) Depreciation expense does not measure changes in market value.
Which statement concerning customer satisfaction is not correct?
a. According to the American Customer Satisfaction Index, fast-food firms rate lowest among retailers in customer satisfaction. b. Most shoppers complain when they are dissatisfied. c. "Very satisfied" shoppers are much more likely to remain loyal than "satisfied" shoppers. d. Customer expectations generally move upwards over time.