Retained earnings
A) is the same as contributed capital
B) cannot have a debit balance
C) changes are summarized in the retained earnings statement
D) over time will have a direct relationship with the amount of cash on hand if the corporation is profitable
C
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____________________ is the allocation of the cost of a tangible, long-term asset over its useful life
Fill in the blank(s) with correct word
A company or activity that is somewhat removed from the final customer is said to be downstream in the value chain
Indicate whether the statement is true or false
Describe a situation in which a student is behaving effectively, but not efficiently.
What will be an ideal response?
(CMA adapted, Dec 95 #27) Somali Inc is a profitable company with the goal to maximize cash flow. A valid reason for Somali not to adopt the last-in, first-out (LIFO) method of inventory valuation is the
a. prices are rising. b. prices are falling. c. company has high administrative costs. d. reduction effect on inventory. e. difficulty in segregating goods in the warehouse.