Confirmation of a plan for reorganization under Chapter 13 may be given only if:
a. the plan complies with applicable law and is given in good faith.
b. the plan provides for payments longer than three years.
c. the debtor remains in possession of the estate.
d. all of the creditors agree to accept it.
a
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Respond to the following: a. What is the decision usefulness approach to accounting theory? b. What are the characteristics and limitations of the decision-model approach? c. What are the characteristics of the decision-maker approach?
What will be an ideal response?
[The following information applies to the questions displayed below.] Assume the perpetual inventory system is used. 1) Green Company purchased merchandise inventory that cost $64,000 under terms of 2/10, n/30 and FOB shipping point. 2) Green Company paid freight cost of $2,400 to have the merchandise delivered. 3) Payment was made to the supplier on the inventory within 10 days. 4) All of the merchandise was sold to customers for $94,000 cash and delivered under terms FOB destination with freight cost amounting to $1,600. What is the amount of gross margin that results from these transactions?
A. $28,880 B. $27,280 C. $31,280 D. $29,680
After the adjustments identified on the bank reconciliation have been recorded, the ending cash (book) balance reflected in the company's records will equal the true cash balance.
Answer the following statement true (T) or false (F)
There are a variety of ways to produce pro forma statements, but they usually rely on two primary inputs. One of these primary inputs is ________
A) the projected sales for the current year B) the projected sales for the past year C) the prior year's financial statements D) this year's financial statements