The Tom Smith Corporation has the following items:
Cash, $5,000; Machinery, $50,000; Building,
$150,000; Note payable bank, $10,000; Savings, $10,000; Long-term debt, $50,000; Accounts
payable, $30,000; Taxes payable, $5,000; Accounts receivable, $30,000; Inventory, $10,000;
Depreciation Building, $35,000; Depreciation Machinery, $25,000; Land $50,000. Current assets
for this Corporation are
A) $45,000.
B) $55,000.
C) $95,000.
D) $155,000.
E) $190,000.
B
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Greg, a geologist from Kansas who works for ExxonMobil, has decided to transfer to one of ExxonMobil's offices in Saudi Arabia. Greg is a(n) ____ while living in Saudi Arabia,
A. globalist B. internationalist C. traitor D. expatriate E. migrator
The specific methods of performance management that work in one country may fail in another, while general principles of performance management may apply in most countries.
Answer the following statement true (T) or false (F)
A CPA is most likely to refer to one or more of the items listed in the Responsibilities section of the Principles Underlying an Audit Conducted in Accordance with GAAS in determining:
A. the nature of the CPA's report qualification. B. whether the CPA should undertake an audit engagement. C. the scope of the CPA's auditing procedures. D. requirements for the review of the entity and its environment.
Which of the following loss contingencies is not usually accrued?
A) product warranty obligations B) premium offer obligations C) risk of loss from fire D) noncollectibility of receivables