Which of the following statements about simple organizational structures is false?
A. There is little specialization of tasks.
B. Creativity and individualism are rare.
C. Small firms with a narrow product-market scope will adopt such a structure.
D. Decision-making authority is highly centralized.
Answer: B
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A small stock dividend normally results in a transfer from Retained Earnings to Contributed Capital of an amount equal to the market value of the stock
Indicate whether the statement is true or false
The costs assigned to the individual assets acquired in a basket purchase are based on their relative:
A. market values. B. depreciable costs. C. historical costs. D. book values.
Which of the following is not true about the Clean Water Act?
A) Point sources are required to keep records, maintain monitoring equipment, and keep samples of discharges. B) The act has water quality standards that determine which bodies of water can be used for drinking water. C) Primary enforcement responsibility is with the federal government. D) The EPA issues permits allowing persons to discharge water pollutants.
Expenses are reported on which of the following financial statement(s)?
A. Income statement B. Income statement and statement of changes in stockholders' equity C. Balance sheet D. Statement of changes in stockholders' equity