The capital provided by common shareholders during the period include(s):
a. the average par value of common stock.
b. capital contributed in excess of par value on common stock.
c. retained earnings.
d. other common shareholders' equity accounts.
e. all of the above.
E
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As the acceptable level of detection risk decreases, the assurance directly provided from:
A. substantive procedures should decrease. B. tests of controls should increase. C. substantive procedures should increase. D. tests of controls should decrease.
Nexis Corp issues 1,000 shares of $15 par value common stock at $25 per share. When the transaction is recorded, credits are made to:
A) Common Stock $15,000 and Paid-in Capital in Excess of Par Value $10,000. B) Common Stock $25,000 and Retained Earnings $15,000. C) Common Stock $15,000 and Paid-in Capital in Excess of Stated Value $10,000. D) Common Stock $25,000.
Theeconomic, trade, financial, and tax systemis among the12 key drivers of manufacturing competitiveness in a global market.
Answer the following statement true (T) or false (F)
The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At the beginning of the year, the Corporation made the following estimates: Dept. ADept. BDirect labor cost$60,000$40,000Manufacturing overhead$90,000$45,000Direct labor-hours 6,000 9,000Machine-hours 2,000 15,000What predetermined overhead rates would be used in Dept. A and Dept. B, respectively?
A. 150% and $3.00 B. 67% and $3.00 C. 67% and $5.00 D. 150% and $5.00