ClearChem is a producer of chemicals used in car detailing and painting. Because of the volatility of their chemical products when exposed to dirt and heat, ClearChem operates its own facilities for storing and shipping its products. ClearChem's facilities are most likely known as
A. distribution centers.
B. product storehouses.
C. public warehouses.
D. megawarehouses.
E. private warehouses.
Answer: E
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Par value of a stock refers to the:
A. Issue price of the stock. B. Dividend value of the stock. C. Market value of the stock on the date of the financial statements. D. Value assigned per share by the corporate charter. E. Maximum selling price of the stock.
In the ______ pattern, threads of thought refer back to the speaker’s central purpose.
a. web b. deferred-thesis c. linear d. narrative
Treasury stock or treasury shares are shares a firm has previously issued and later reacquired. Which of the following is/are not true?
a. Some firms believe that their own shares provide a good investment. b. Evidence supports the notion that share prices often increase after a firm announces a share repurchase program. c. Rather than pay dividends to all shareholders, many of whom will owe personal income taxes on the entire dividend amount, the firm can buy back shares from those who wish to receive cash. d. Some shareholders will have lower tax rates on receipts from sales of shares than on dividend receipts. e. Share repurchases use up available cash and thereby increase the attractiveness of the company to outsiders who believe that the stock buy back makes the company an attractive target.
Which of the following journal entries records the accrual of the cost of indirect labor used in production?
a. Debit Work in Process Inventory, credit Manufacturing Overhead. b. Debit Manufacturing Overhead, credit Wages Payable. c. Debit Manufacturing Overhead, credit Work in Process Inventory. d. Debit Work in Process Inventory, credit Wages Payable.