The accounting cycle begins with preparing an unadjusted trial balance
Indicate whether the statement is true or false
False
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S-type corporations and limited liability companies are taxed like partnerships, but have the advantage of limited liability for their owners
Indicate whether the statement is true or false
Which of the following is required for a successful implied contract wrongful discharge claim?
a. a written contract signed by both the employer and the employee b. a specific oral promise limiting employment at will c. a clear and prominent written disclaimer d. all of the above e. none of the above
Saltaire Co. is a French company located in Paris. Primer Corp., located in New York City, acquires Saltaire Co. Saltaire has the Euro as its recording currency and the Swiss Franc as its functional currency. Primer has the U.S. dollar as its recording currency and the U.S. dollar as its functional currency.Required:a) The year-end consolidated financial statements will be prepared in which currency?b) Explain which method is appropriate to use to use at year-end: Translation or Remeasurement?
What will be an ideal response?
Which of the following statements about Trek Bicycles is FALSE?
A. Trek has always been on the cutting edge, using the latest innovations in its designs. B. Trek's business model has evolved from manufacturing bicycles to marketing other two- and four-wheeled vehicles, such as motorcycles and all terrain vehicles (ATVs). C. Trek has an extensive product line of bicycles. D. Trek views the bicycle as an important form of alternative transportation, not just as recreation. E. Trek's Eco Design initiative is an example of sustainable procurement.