The FASB's conceptual framework defines a(n) _____ as inflows or other enhancements of assets of an entity or settlements of its liabilities from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing major or central operations
a. assets
b. liabilities
c. equities
d. revenues
e. expenses
D
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When a company exchanges machinery and receives a trade-in allowance greater than the book value, thistransaction would be recorded with which of the following entries (assuming the exchange was considered to havecommercial substance)?
a. debit Machinery and Accumulated Depreciation; credit Machinery, Cash, and Gain on Exchange ofMachinery b. debit Cash and Machinery; credit Accumulated Depreciation and Machinery c. debit Machinery and Accumulated Depreciation; credit Machinery and Cash d. debit Cash and Machinery; credit Accumulated Depreciation
Marketers classify convenience products as ________
A) staples, impulse products, and emergency products B) specialty products, shopping products, and unsought products C) core products, actual products, and augmented products D) generic products and branded products E) attribute-based products and price-based products
Rick is attending a training session on communication skills at work. The session is being conducted by a famous life-skills coach from another country. Rick is distracted by the speaker's accent and style of speaking because it is so different. In this situation, which of the following actions should Rick take to ensure that his listening is maximized?
A. He should maintain his mental focus on the speaker's message. B. He should turn away from the speaker so that he can listen more carefully. C. He should leave the training session. D. He should maintain less eye contact so that he can listen more actively.
Cumulative preferred stocks are preferred stocks for which all passed (unpaid) dividends in arrears must be paid along with the current dividend prior to the payment of dividends to common stockholders
Indicate whether the statement is true or false