Select the statement that is incorrect concerning the appropriations of retained earnings
a. Appropriations of retained earnings reflect funds set aside for a designated purpose, such as plant expansion.
b. Appropriations of retained earnings do not change the total amount of stockholders' equity.
c. Appropriations of retained earnings can be made as a result of contractual requirements.
d. Appropriations of retained earnings can be made at the discretion of the board of directors.
C
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Which of the following actions would most likely create an opportunity for fraud?
a. requiring all documents over seven years old be shredded b. requiring that the department manager authorize purchase orders only for purchase amounts for more than $100 c. requiring one password code for each entire department to enter the storeroom d. using a manual accounting system
Identify the three components of the American Marketing Association Statement of Ethics.
What will be an ideal response?
Franco has the permission of George to walk across his yard on the way to school. Franco now brings twenty of his friends across the yard, and they stop to play ball. In this case:
a. Franco is not guilty of trespass to real property, because he had George's permission to cross the yard. b. Franco's friends are not guilty of trespass to real property, because they were with Franco. c. Franco is guilty of trespass to real property, because he walked across the yard. d. Franco and his friends are guilty of trespass to real property, because they played ball in George's yard.
Carlos had $5,000 in capital losses last year and $8,000 in capital gains this year. He will include with (or exclude from) his other income this year
A) $6,000. B) $3,000. C) $8,000. D) $0.