McKinsey and Company's trend predictions include(s)
A) distributed cocreation moves into the mainstream.
B) imagining anything as a service.
C) innovation coming from the bottom of the pyramid.
D) all of the above.
D
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The Levi Company issued $200,000 of 12% bonds on January 1 at face value. The bonds pay interest semiannuallyon January 1 and July 1 . The bonds are dated January 1, and mature in five years, on January 1 . The total interestexpense related to these bonds for the current year ending on December 31 is
a. $2,000 b. $6,000 c. $18,000 d. $24,000
Which of the following would not be a source of information for personal financial statements?
a. Broker's statements b. Income tax returns c. Safe deposit box d. Checkbook e. All of the answers would be a source of information.
According to the expense recognition principle, inventory costs are expensed as cost of goods sold when inventory is sold.
Answer the following statement true (T) or false (F)
ValleyView Company acquires common stock of Kansas Enterprises for $400,000 on November 1, 2013, and designates this investment as available-for-sale. The fair value of these shares is $435,000 on December 31, 2013 . ValleyView sells these shares on August 15, 2014, for $480,000. (Refer to ValleyView.) The journal entry to measure securities available-for-sale on December 31, 2013 is:
a. Unrealized Holding Gain on Securities Available-for-Sale................35,000 Marketable Securities.....................................35,000 b. Unrealized Holding Gain on Securities Available-for-Sale................35,000 Common Stock...............................................35,000 c. Common Stock....................................... 35,000 Unrealized Holding Gain on Securities Available-for-Sale.......................35,000 d. Marketable Securities............................ 35,000 Cash.............................................................. 35,000 e. Marketable Securities........................... 35,000 Unrealized Holding Gain on Securities Available-for-Sale......................35,000