How is treasury stock reported on a corporation's balance sheet?
A. As a deduction in determining total stockholders' equity
B. As a deduction from retained earnings
C. As an addition to total paid-in capital
D. As a deduction from total paid-in capital
Answer: A
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A box of Crest toothpaste contains a coupon entitling the buyer to save 50 cents when purchasing a Crest toothbrush. What type of sales promotion does this represent?
A) cross coupon B) product placement coupon C) trade promotion coupon D) freestanding coupon E) online coupon
A company exchanged its used machine for a new machine in a transaction that had commercial substance. The old machine cost $68,000, and the new one had a cash price of $95,000. The company had taken $59,000 depreciation on the old machine and was allowed a $2,500 trade-in allowance and the balance of $92,500 was paid in cash. What gain or loss should be recorded on the exchange?
What will be an ideal response?
ETL stands for extraction, transformation, and loading.
Answer the following statement true (T) or false (F)
Describe the limitations of internal control. Why do limitations on internal control exist?
What will be an ideal response?