Special shareholder meetings may be called by:
a. the board of directors.
b. holders of at least 10% of shares.
c. Both the board of directors and also holders of at least 10% of shares.
d. Neither the board of directors and also holders of at least 10% of shares.
c
You might also like to view...
Under the indirect method of determining the net cash provided by operating activities on the statement of cash flows, a decrease in inventory would be added to net income.
Answer the following statement true (T) or false (F)
An auditor's review of the repair expense to identify any capital expenditures is a test related to which management assertion?
a. Existence b. Completion c. Valuation d. Rights and Obligation
Answer the following statements true (T) or false (F)
1. Electronic funds transfers move cash by electronic communications. 2. Electronic funds transfers are a system that transfers cash by using paper documents. 3. Debit card transactions are considered electronic funds transfers. 4. All items on the book side of the bank reconciliation require journal entries. 5. Bank errors are posting errors made by the bank that either incorrectly increase or decrease the depositors bank balance.
Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the application of factory overhead to production is:
A. Debit Work in Process Inventory $225,000; credit Factory Overhead $225,000. B. Debit Work in Process Inventory $165,000; credit Factory Overhead $165,000. C. Debit Work in Process Inventory $165,000; credit Factory Payroll $165,000. D. Debit Factory Overhead $165,000; credit Work in Process Inventory $165,000. E. Debit Factory Payroll $150,000; credit Work in Process Inventory $150,000.