How do the balance sheets of corporations illustrate the accounting concept of separate entity?
Balance sheets (statements of financial position) of corporations illustrate the accounting concept of separate entity in the shareholders' equity section. Individual names of stockholders are not shown. Instead, their ownership is evidenced by shares of stock. The assets and liabilities shown on the consolidated balance sheets are those of the corporation itself, not of the individual stockholders.
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Discuss the various elements of the cost control process
[The following information applies to the questions displayed below.]Angle Max Industries produces a product which goes through two operations, Assembly and Finishing, before it is ready to be shipped. Next year's expected costs and activities are shown below. AssemblyFinishingDirect labor hours 100,000DLH 140,000DLHMachine hours 300,000MH 60,000MHOverhead costs$300,000 $420,000 Assume that the Assembly Department allocates overhead based on machine hours, and the Finishing Department allocates overhead based on direct labor hours. How much total overhead will be assigned to a product that requires 1 direct labor hour and 2.5 machine hours in the Assembly Department, and 3.5 direct labor hours and 0.5 machine hours in the Finishing Department?
A. $11.00. B. $10.50. C. $7.50. D. $13.00. E. $2.50.
Whether they like them or not, most U.S. automobile customers are familiar with and have an opinion about American-made cars. This familiarity makes it easier for consumers to
A. pursue generic alternatives. B. consider repositioning their opinions. C. negotiate discounts. D. meet their self-actualization needs. E. make purchase decisions.
Distribution outlets become more difficult to secure during the growth stage of a product's life cycle because of aggressive competition.
Answer the following statement true (T) or false (F)