Marla placed an advertisement in the newspaper offering a $200 reward for the return of her lost briefcase. Edward calls her and says "I'll find it!" Which is true?
a. A bilateral contract has been formed.
b. A unilateral contract has been formed.
c. No contract has been formed as this is a unilateral offer.
d. No contract has been formed as this is a bilateral offer.
c
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On April 1, 2018, GMR Company purchased 30% of the outstanding voting stock of the Victory Corporation for $960,000. Victory's net assets on April 1, 2018 totaled $2,500,000. Victory's equipment was undervalued by $500,000 and its inventory was undervalued by $200,000 as of the date of purchase. The equipment has a ten-year remaining life as of April 1, 2018; the inventory was sold during 2018. Victory reported $450,000 of net income during 2018 and paid dividends of $75,000. Assume that net income was recognized evenly during 2018 and dividends were declared and paid evenly during 2018. Required:
Prepare a schedule to determine the amount of investment income to be reported by GMR during 2018 assuming that the equity method of accounting is applicable. Prepare a schedule to determine the balance in the investment account as of December 31, 2018 assuming that the equity method is applicable. Describe how the financial accounting and reporting would have differed if the equity method was not applicable. Describe how equity method investments are accounted for if GMR uses the fair value option of accounting for its investment. What will be an ideal response?
One major advantage of focus groups is that they may be directed at understanding a wide variety of issues such as reactions to a new food product, brand logo, or television ad
Indicate whether the statement is true or false
Which of the following would NOT be classified as cash?
a. Personal checks b. Travelers' checks c. Cashiers' checks d. Postdated checks
If you phrase bad news ________, your audience is more likely to understand your message
A) by sugarcoating it B) in clear terms C) through implication D) by subtle hints E) in vague terms