Shauntae receives a distribution from a corporation in complete liquidation of his ownership interest. Shauntae could report a capital gain, but not a capital loss, from the distribution.
Answer the following statement true (T) or false (F)
False
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Which of the following is not true about a 35 percent stock dividend?
a. The market value of the stock is needed to record the stock dividend. b. Retained earnings decreases. c. Contributed capital increases. d. Par value per share remains the same.
It is obvious that an error occurred in the preparation and/or posting of closing entries if:
A. all revenue and expense accounts have zero balances. B. only permanent accounts appear on the post-closing trial balance. C. the Retained earnings account is debited for the amount of the net loss for the period. D. all balance sheet accounts have zero balances. E. the income summary account is debited for the amount of net income for the period.
________ involves gathering primary data by closely examining relevant people, actions, and situations
A) Observational research B) Survey research C) Telephone interviewing D) Causal research E) Group interviewing
______ is a person’s sustained motivation to a carry out a course of action or contribute to the well- being of some other person, group, or organization.
Fill in the blank(s) with the appropriate word(s).