How much of the total time available to you should ideally be spent on planning and revising a document?
A. Less than a quarter of the total time available
B. No more than one-third of the total time available
C. Exactly half of the total time available
D.Two thirds of the total time available
E. None of the above
Answer: D.Two thirds of the total time available
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If Dakota Company issues 1,500 shares of $6 par common stock for $75,000,
a. Common Stock will be credited for $75,000 b. Paid-In Capital in Excess of Par will be credited for $9,000 c. Paid-In Capital in Excess of Par will be credited for $66,000 d. Cash will be debited for $66,000
Lucy recently took on a new job at a very large company with several levels of supervision above her pay grade in the hierarchy. She seems to be constantly meeting new people whom she perceives to have some control over her success in the organization. This perception tends to cause Lucy a great deal of stress. Explain why it is more likely that Lucy will reciprocate than to compensate in interactions with these people.
What will be an ideal response?
Rowan Company has four different categories of inventory. The quantity, cost, and market value for each of the inventory categories are as follows:ItemQuantityCostPer UnitMarket Value Per Unit1220$ 4.40 $ 4.60 2130$6.20 $ 6.00 3100$10.00 $9.25 425$20.50 $25.00 The company carries inventory at lower-of-cost-or-market applied to the entire stock of inventory in the aggregate. How would the implementation of the lower-of-cost-or-market rule impact the elements of the company's financial statements?
A. Decrease total assets and stockholders' equity by $101.00. B. Increase total assets and stockholders' equity by $55.50. C. Have no effect on total assets or stockholders' equity. D. Decrease total assets and stockholders' equity by $79.00.
Under the needs approach, when is the dependency period of a surviving spouse assumed to end?
A) 1 or 2 years after the breadwinner's death B) when the youngest child reaches age 18 C) when the surviving spouse reaches age 65 D) when the surviving spouse dies