For each of the following definitions, indicate the key term from the list that best matches by placing the appropriate definition.A. Term endowmentsB. Annuity agreementsC. CollectionsD. Pooled life income agreementsE. Spending rateF. Total return________1. Agreements to pay the donor the income earned by assets donated to an organization over the specified beneficiary's lifetime________ 2. A comprehensive measure of the rate of investment return, which includes unrealized and realized gains and losses, as well as interest and dividend income________ 3. A contribution that must be retained intact until the happening of a specific event or the passage of a stated period of time________ 4. The proportion of total return that may prudently be used by an institution for current
purposes________ 5. Agreement to pay stipulated amounts periodically to the donor of assets by the recipient organization
What will be an ideal response?
1. D, 2. F, 3. A, 4. E, 5. B
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Accountants argue that which of the following approaches to estimating Allowance for Bad Debts provides a realistic estimate of the net receivables?
a. taking a percentage of net sales b. taking a percentage of revenue c. aging the accounts receivable d. analyzing the sales on account
Why do companies opt for market segmentation?
What will be an ideal response?
Which of the following is the correct journal entry for a return of goods that were purchased on account under the periodic inventory system?
A) Purchase Returns and Allowances XX Accounts Payable XX B) Accounts Payable XX Merchandise Inventory XX C) Accounts Payable XX Purchase Returns and Allowances XX D) Merchandise Inventory XX Accounts Payable XX
Select financial data for Ewing Oil Inc. is provided in the table below. Ewing Oil repurchased $4.75B worth of shares during the year at an average price of $25. How many shares are outstanding at the end of the year?
Ewing Oil Inc. Selected Financial Information Shares outstanding at beginning of Year 1.86B Price at beginning of Year $25 Value of company beginning of Fiscal 46.5B A) 1.67B B) 1.86B C) 1.97B D) 2.05B E) 2.19B