Answer the following statements true (T) or false (F)
1. When a company invests in equity securities with 20% to 50% ownership in the investee's voting stock, the investor can significantly influence the investee's decisions.
2. Investments accounted for by the equity method are recorded at cost at the time of purchase.
3. Significant influence equity investments must be accounted for using the equity method.
4. Under the equity method, the Equity Investments account is debited for the receipt of a dividend because the dividend increases the investee's equity.
1. TRUE
2. TRUE
3. TRUE
4. FALSE
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Bylaws of a corporation must be filed with a government official
Indicate whether the statement is true or false
The following balance sheet information is provided for Patton Company:Assets Year 2 Year 1 Cash$4,000 $2,000 Accounts receivable 15,000 12,000 Inventory$35,000 $38,000 Assuming Year 2 cost of goods sold is $730,000, what are the company's average days to sell inventory? (Use 365 days in a year. Do not round intermediate calculations.)
A. 18.25 days B. 19 days C. 20.86 days D. 17.5 days
The signing of the project charter marks the transition between which two phases of the project life cycle?
a. Selecting and Initiating b. Initiating and Planning c. Planning and Executing d. Executing and Closing
The former communist countries of Eastern Europe have no advertising restrictions on tobacco and alcohol targeting teenagers
Indicate whether the statement is true or false