A donation received is considered a voluntary nonexchange transaction only if it is unrestricted.
Answer the following statement true (T) or false (F)
False
Voluntary nonexchange transactions are donations and grants given to support a program. Since the program is not required, the receiving government voluntarily agrees to participate.
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Which of the following is not considered part of comprehensive income?
A) translation adjustments from financial statement conversions B) gains and losses on derivative financial instruments C) gains and losses associated with the sale of a business component D) gain and losses associated with adjustments to pension plan assets and liabilities
Retained earnings:
A. Represent an amount of cash available to pay shareholders. B. Are never adjusted for anything other than net income or dividends. C. Represents the amount shareholders are guaranteed to receive upon company liquidation. D. Can only be appropriated by setting aside a cash fund. E. Generally consists of a company's cumulative net income less any net losses and dividends declared since its inception.
Buggy Whip Manufacturing Company is issuing preferred stock yielding 8%. Selten Corporation is considering buying the stock. Assume that Buggy's tax rate is 0% due to continuing heavy tax losses, and Selten's tax rate is 21%. What is the after-tax preferred yield for Selten? Assume the tax rate on dividends is 15%.
A) 7.22% B) 5.33% C) 7.64% D) 8.00%
Daniel Sanders manages the sales team at Aspen Inc. At the time it was least expected, one of the company's major clients, Graypin Solutions, severed business ties with Aspen in favor of a cheaper alternative. Which of the following subject lines should Daniel use in his e-mail to inform his team about this development?
A. "LOST GRAYPIN! EXTREMELY DISAPPOINTING!!" B. "How did we lose Graypin?" C. "Graypin Solutions" D. "We Lost Graypin Solutions Account" E. "We have to move on AFTER Graypin Solutions FAILURE"