Which of the following is true about drafts?
A) Drafts are two-party paper.
B) A draft must have a bank as the drawee.
C) All drafts are payable on demand.
D) A draft contains an order to pay.
D
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Mission Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $18.00 per share.
After the declaration and distribution of a 12% stock dividend, what is the total number of common shares issued?
A) 13,000
B) 160,160
C) 143,000
D) 17,160
Which of the following statements about the team interview process is true?
a. The team does not discuss the pool of applicants prior to holding interviews. b. The team reviews résumés individually, with each team member making his/her recommendation to management as to who should be hired. c. The team interview can involve interviewing more than one applicant at the same time. d. The team interview results in a quicker hiring decision than does a traditional interview.
Nelda suffered a serious stroke and was admitted to a nursing home for 140 days. Nursing home charges, including physician fees and other related expenses were $33,000. Under Nelda's long-term care insurance contract, she received reimbursements of $36,000. How much of the $36,000 reimbursement must be included in Nelda's gross income in 2018?
A) $0 B) $1,400 C) $36,000 D) $3,000
Sperle Corporation has provided the following data concerning its stockholders' equity accounts: Year 2Year 1Stockholders' equity: Common stock, $5 par value$400,000 $400,000 Additional paid-in capital 60,000 60,000 Retained earnings 654,000 630,000 Total stockholders' equity$ 1,114,000 $ 1,090,000 Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share.The company's price-earnings ratio for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. 5.70 B. 4.53 C. 0.38 D. 8.11