When a debtor petitions the court for Chapter 7 bankruptcy, which of the following items need not be provided?
a. a list of all creditors with amounts owed them b. a list of all property owned by the debtor
c. a statement of the financial affairs of the debtor d. a list of planned future expenditures
e. all of the other choices must be provided
d
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Which of the following is a criterion used in scaling factors?
A. ensure the degree is separated from the job B. ensure the use of more than five degrees per factor C. limit degrees to those necessary to distinguish between jobs D. have no more than five degrees per factor E. use sophisticated terminology in order to be perceived as important
Abbott Company purchased $6,500 of merchandise inventory on account. Abbott uses the perpetual inventory system. Which of the following entries would be required to record this transaction?
A.
| Inventory | 6,500 | |
| Accounts Payable | 6,500 |
B.
| Accounts Payable | 6,500 | |
| Inventory | 6,500 |
C.
| Cost of Goods Sold | 6,500 | |
| Accounts Payable | 6,500 |
D.
| Accounts Payable | 6,500 | |
| Purchases | 6,500 |
Which of the following statements is (are) true with regard to probability analysis?
I. If two events are independent, the occurrence of one event does not affect the occurrence of the second event. II. If two events are dependent, the occurrence of one event affects the occurrence of the second event. A) I only B) II only C) both I and II D) neither I nor II
On January 4, Year 1, Barber Company purchased 5,000 shares of Convell Company for $59,500 plus a broker's fee of $1,000. Convell Company has a total of 25,000 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Convell. During each of the next two years, Convell declared and paid cash dividends of $0.85 per share, and its net income was $72,000 and $67,000 for Year 1 and Year 2, respectively. What is the book value of Barber's investment in Convell at the end of Year 2?
A. $87,300. B. $79,800. C. $52,000. D. $88,300. E. $60,500.