Fairness in the treatment of others comes down to
a. taking advantage of others.
b. treating others as you would like to be treated.
c. not giving others credit for their accomplishments.
d. all of these choices.
B
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Only one copy of the prelist should be prepared when an employee opens mail with customer payments to avoid complexity in the accounting system and maintain control
a. True b. False Indicate whether the statement is true or false
Joshua owns 100% of Steeler Corporation's stock. Joshua's basis in the stock is $8,000. Steeler Corporation has E&P of $40,000. If Steeler Corporation redeems 60% of Joshua's stock for $50,000, Joshua must report dividend income of
A. $50,000. B. $40,000. C. $8,000. D. $0.
Which of the following is not true concerning the recognition of unrealized gains and losses on foreign currency translation during the consolidation process?
a. Firms do not recognize these gains/losses in current income. b. Firms recognize these gain/losses in the statement of other comprehensive income c. Firms increase/reduce their investment accounts by the translation gains/losses d. Unrealized gains and losses increase/decrease other accumulated comprehensive income in shareholders' equity.
All of the following are economic factors that will decrease a firm's value-to-book ratio over time except:
a. decreasing competition that drives the firm's ROCE down b. increasing systematic risk that increases the firm's equity cost of capital over time c. a loss of competitive advantage through changes in technology or other factors d. retaining earnings or issuing equity capital and deploying the capital in activities that generate ROCE levels that are lower than current levels