Types of corporate bonds:
What will be an ideal response?
(a) Typical bonds
(b) Zero-coupon bonds
(c) Convertible bonds that can be converted into shares of common stock at some predetermined ratio at the discretion of the bondholder.
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A company changes from capitalizing and amortizing preproduction costs to recording them as an expense when incurred, because future benefits associated with those costs have become doubtful. This accounting change should be recognized as a
A) change in accounting estimate. B) change in accounting principle. C) change in reporting entity. D) correction of an error.
Knapper Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During January, the kennel budgeted for 2,700 tenant-days, but its actual level of activity was 2,740 tenant-days. The kennel has provided the following data concerning the formulas to be used in its budgeting: Fixed Element per MonthVariable Element per Tenant-DayRevenue - $37.00 Wages and salaries$3,800 $6.10Food and supplies 900 14.90Facility expenses 9,700 4.80Administrative expenses 6,600 0.10Total expenses$ 21,000 $ 25.90The food and supplies in the flexible budget for January would be closest to:
A. $42,243 B. $41,018 C. $41,130 D. $41,726
The recognition point for revenues, expenses, gains and losses is the same for tax and financial reporting purposes
Indicate whether the statement is true or false
Frequency is which of the following?
A) the total number of people who will be exposed to an ad placed in one media vehicle B) the percentage of people who will be exposed to an ad more than once C) the percentage of people who will be exposed to the media vehicle D) the number of times a person in the target group will be exposed to an ad E) the total number of ads in one advertising campaign