Over half of all Fortune 500 firms train their employees to recognize and deal with particular types of behavior that breach their ethical codes
Indicate whether the statement is true or false
True
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Compilation Reporting For a compilation report, identify: A. for what type of organization the report may be performed; B. the procedures the auditor performs; C. the type of assurance provided; D. the requirements for auditor independence
A company has 625 shares of $65 par value preferred stock outstanding. It also has 25,000 shares of common stock outstanding, and the total value of its stockholders' equity is $865,625. The company's book value per common share equals:
A. $33.00. B. $33.38. C. $33.78. D. $32.20. E. $34.63.
Rayco Ski Shop purchased 500 pairs of skis from Skitron. Rayco is located in Colorado. Skitron's business is in Tennessee. The purchase order included the following term: "F.O.B. Colorado." The contract makes no mention of risk of loss or title. The contract can be described as a:
a. shipment contract. b. destination contract. c. bulk transfer. d. sale on approval.
Johnson Inc. owns control over Kaspar Inc. Johnson reports sales of $400,000 during 2018 while Kaspar reports $250,000. Kaspar transferred inventory during 2018 to Johnson at a price of $50,000. On December 31, 2018, 30% of the transferred goods are still held in Johnson's inventory. Consolidated accounts receivable on January 1, 2018 was $120,000, and on December 31, 2018 is $130,000. Johnson uses the direct approach in preparing the statement of cash flows. How much is cash collected from customers in the consolidated statement of cash flows?
A. $590,000. B. $635,000. C. $610,000. D. $625,000. E. $650,000.