The board of directors of Lark Corporation declared a cash dividend of $3.50 per share on 57,000 shares of common stock on June 14, 20x5. The dividend is to be paid on July 15, 20x5, to shareholders of record on July 1, 20x5. The proper entry to be recorded on June 14, 20x5 is,
A) Dividends 199,500 Dividends Payable 199,500
B) No journal entry is necessary on this date
C) Dividends 199,500 Retained Earnings 199,500
D) Dividends payable 199,500 Dividends 199,500
A
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Spark, Inc., which manufactures the fireworks that municipal governments buy to put on their annual fireworks shows on the Fourth of July, moved most of its manufacturing operations from the United States to China a decade ago. Now, Spark is moving production back to the United States because the company's managers are uncomfortable with many Chinese business practices. Spark, Inc. engages in __________ when it moves its operations back to the United States.
A. offshoring B. outsourcing C. reshoring D. globalizing E. countertrading
Which of the following statements is true of a niche strategy?
a. A niche strategy is most suitable for firms that have achieved economies of scale. b. A niche strategy requires business firms to reduce after-purchase service options. c. A niche strategy involves removing extra frills from products. d. A niche strategy is ideal for small companies with limited resources.
The Partnership Act provides that if the partners do not agree otherwise, certain terms of a partnership agreement will be implied. Which of the following is NOT such an implied term?
A) Each partner shall be responsible for the losses of the firm only to the limit of each partner's initial cash contribution. B) Every partner may take part in the management of the partnership business. C) No partner is entitled to a wage for acting in the partnership business D) No person may be introduced as a partner without the consent of all the existing partners. E) The partners will share the profits equally.
Fraudulent, but not innocent, misrepresentation permits the injured party to rescind a contract
a. True b. False Indicate whether the statement is true or false