A corporation is a domestic corporation in the state in which it is incorporated
a. True
b. False
Indicate whether the statement is true or false
True
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The first event in the Calvin cycle is the attachment of carbon dioxide to the five-carbon RuBP molecule, which immediately becomes a six-carbon sugar that is the base for starch, sucrose, cellulose, etc.
Answer the following statement true (T) or false (F)
McGuire Company acquired 90 percent of Hogan Company on January 1, 2019, for $234,000 cash. This amount is reflective of Hogan's total acquisition-date fair value. Hogan's stockholders' equity consisted of common stock of $160,000 and retained earnings of $80,000. An analysis of Hogan's net assets revealed the following: Book Value Fair ValueBuildings (10-year life)$10,000 $8,000 Equipment (4-year life) 14,000 18,000 Land 5,000 12,000 ??Any excess consideration transferred over fair value is attributable to an unamortized patent with a useful life of 5 years.?In consolidation at January 1, 2019, what adjustment is necessary for Hogan's Patent account?
A. $9,900. B. $11,000. C. $7,000. D. $6,300. E. No adjustment is necessary.
U.S. GAAP and IFRS on accounting for repurchases and reissuances of treasury shares follow the principle that
a. a corporation does not report a gain or loss on transactions involving its own shares. b. the economic gain, or economic loss, are a component of accounting income. c. that views treasury stock purchases and sales as operating transactions and therefore debits Cash (for economic gains) or credits Cash (for economic losses). d. the effects are recognized in net income, other comprehensive income and Accumulated Other Comprehensive Income, and often Retained Earnings (depending on the specific accounting method used). e. none of the above
The headquarters of Oceanic Corp. is in the United States but it has subsidiaries in 10 countries. Its staffing strategy is to use managers from the United States to staff each subsidiary. This staffing strategy is considered ______.
A. polycentric B. ethnocentric C. geocentric D. regiocentric