Mena applies for a homeowners' insurance policy on her house with Neighbors Insurance Company through Obie, an agent who works for Neighbors. In this transaction, Obie is
A) an agent for both parties
B) Mena's agent, and not Neighbors's agent.
C) Neighbors's agent, and not Mena's agent.
D) not an agent.
C
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On January 4, Year 1, Barber Company purchased 11,500 shares of Convell Company for $138,000 plus a broker's fee of $3600. Convell Company has a total of 57,500 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Convell. During each of the next two years, Convell declared and paid cash dividends of $0.75 per share, and its net income was $111,000 and $106,000 for Year 1 and Year 2, respectively. The January 12, Year 3, entry to record Barber's sale of 6900 shares of Convell Company stock, which represents 60% of Barber's total investment, for $93,150 cash should be:
A. Debit Cash $93,150; credit Gain on Sale of Investment $8190; credit Equity Method Investments $84,960. B. Debit Cash $93,150; debit Loss on Sale of Investment $48,450; credit Equity Method Investments $141,600. C. Debit Cash $93,150; credit Gain on Sale of Investment $17,250; credit Equity Method Investments $75,900. D. Debit Cash $93,150; debit Loss on Sale of Investment $7500; credit Equity Method Investments $100,650. E. Debit Cash $93,150; debit Loss on Sale of Investment $17,250; credit Equity Method Investments $110,400.
At a given point in time, a business's trial balance is a list of all of its general ledger accounts and their balances.
Answer the following statement true (T) or false (F)
Self-directed groups (a.k.a. self-managed groups) are found in ______.
A. hierarchically structured organizations B. flat-structured organizations C. evolutionary systems D. revolutionary systems
At the initial stage of an international marketing campaign, many American companies prefer to use an international ad agency based in the United States with foreign offices in other countries. This is because
A. U.S. agencies are more creative than foreign agencies in terms of advertising concepts. B. U.S.-based agencies give an advertiser better control of the advertising process. C. U.S.-based agencies generally understand local markets better than agencies located in these countries. D. U.S. agencies understand world markets better than foreign agencies do. E. American culture is mostly used as a basis for understanding other cultures.