AFB Corp Declared a $1.00 dividend on January 5th, with an ex-dividend date of January 19th, a
record date of January 21st, and a payment date of March 15th. Doug purchased AFB stock on
January 6th.
Which of the following statements is MOST correct?
A) Doug will not receive the dividend because he purchased the stock after the declaration date.
B) Doug will receive the dividend if he still sells his stock on January 20th because he owned the
stock on the ex-dividend date.
C) Doug will receive the dividend if he still owns the stock on January 21st, even if he sells the
stock before the payment date.
D) Doug will not receive the dividend because he purchased the stock prior to the record date.
C
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Gloria Catering provided $1,000 of catering services and billed its client for the amount owed. Determine the general journal entry that Gloria Catering will make to record this transaction.
A.
| Accounts Receivable | 1,000 | |
| Unearned Catering Revenue | 1,000 |
B.
| Unearned Catering Revenue | 1,000 | |
| Catering Revenue | 1,000 |
C.
| Catering Revenue | 1,000 | |
| Accounts Receivable | 1,000 |
D.
| Accounts Receivable | 1,000 | |
| Catering Revenue | 1,000 |
E.
| Accounts Payable | 1,000 | |
| Catering Revenue | 1,000 |
Companies requesting quotes from vendors for the purchase of supplies is known as
A) C2V. B) reverse auction. C) shopping. D) supply chain management.
Prescribing policies and operating procedures aids the task of implementing strategy by
A. placing limits on ineffective independent action and channeling efforts of individuals along a path more conducive to good strategy execution and operating excellence. B. acting as a powerful lever for changing employee attitudes about the need for a different incentive and reward system. C. helping ensure that worker eligibility for incentive bonuses is measured consistently and awarded fairly. D. fostering the use of best practices, TQM, Six Sigma, and continuous improvement efforts. E. helping build employee commitment to strengthening the company's core competencies and competitive capabilities.
Exchange Corporation collected $8,000 from one of its customers, the amount owed from the previous month. How does this affect the accounting equation for Exchange?
A) assets increase by $8,000; liabilities decrease by $8,000 B) assets increase by $8,000; assets decrease by $8,000 C) assets increase by $8,000; liabilities increase by $8,000 D) assets increase by $8,000; equity increases by $8,000