________ projects do not compete with each other; the acceptance of one ________ the others from consideration
A) Capital; eliminates
B) Independent; does not eliminate
C) Mutually exclusive; eliminates
D) Replacement; eliminates
B
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The information contained in the annual report is used by investors to form expectations about future earnings and dividends.
Answer the following statement true (T) or false (F)
The change in each of Kendall Corporation's balance sheet accounts last year follows: IncreaseDecreaseCash and cash equivalents$3,000 Accounts receivable$2,000 Inventory $3,000 Prepaid Expenses$4,000 Long-term Investments $15,000 Property, Plant and Equipment$10,000 Accumulated Depreciation$8,000 Accounts payable $9,000 Accrued Liabilities$6,000 Bonds Payable $13,000 Common Stock$5,000 Retained Earnings$4,000 Kendall Corporation's income statement for the year was: Sales$300,000Cost of goods sold 180,000Gross margin 120,000Selling and administrative expense 116,000Net income$ 4,000?There were no sales or retirements of property, plant, and equipment and no dividends paid during the year. The
company pays no income taxes and it did not purchase any long-term investments, issue any bonds payable, or repurchase any of its own common stock. The net cash provided by (used in) operating activities on the statement of cash flows is determined using the direct method.Using the direct method, sales adjusted to a cash basis would be: A. $300,000 B. $305,000 C. $302,000 D. $298,000
[Software Dispute] Cole, Kyra, and Morton are partners in a startup company that designs software for the biotechnology industry. Their partnership agreement contained a provision that the partnership would be dissolved when Morton retires, or if any partner commits any act that violates the trust of the other partners. The partnership agreement also provided that all intellectual property related to the business of the partnership, including any patents, be owned by the partnership. Cole decides to open another company, ColeCompany, that would design gaming software. He sets up the company secretively, transfers a patent owned by the partnership to ColeCompany, and does not tell his partners until he is ready to do business at ColeCompany. When Kyra and Morton find out that Cole went
behind their backs and opened another business, they tell Cole they can no longer trust him and are dissolving the partnership because of his actions. Cole, who is the software designer for the partnership, tells them if they want to dissolve the partnership, then he will also design software for the biotech industry at ColeCompany.Can Cole design software for the biotech industry at ColeCompany while the partnership is winding-up? A. No, during the winding-up phase, a partner cannot engage in a business that competes with the partnership. B. No, a partner may never engage in a business that competes with the partnership. C. Yes, during the winding-up phase, a partner can engage in a business that competes with the partnership. D. Yes, during the winding-up phase, a partner can engage in a business that competes with the partnership as long as he discloses all the information about the partnership assets. E. Yes, during the winding-up phase, a partner can engage in a business that competes with the partnership as long as he still fulfills his fiduciary duty to the partnership and discloses all the information about the partnership assets.
When trying to determine your disability income needs, you should consider your available sick leave, income needs, and:
A) Social Security benefits. B) surgical expense protection. C) Medicare. D) life insurance. E) income tax bracket.