In developing the cash flows from operating activities, most companies in the United States
A) use the direct method.
B) use the indirect method.
C) present both the indirect and direct methods in their financial reports.
D) prepare the operating activities section on the accrual basis.
B
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If factory overhead applied is less than the adjusted debit balance of Factory Overhead, the difference is known as
a. underapplied overhead. b. cost of goods sold. c. overabsorbed overhead. d. overapplied overhead.
In a retailer cooperative, independent retailers band together to set up a jointly owned, central wholesale operation and conduct joint merchandising and promotion efforts
Indicate whether the statement is true or false
Which component of service-oriented DSS can be described as a subset of a data warehouse that supports specific decision and analytical needs and provides business units more flexibility, control, and responsibility?
A) information delivery portals B) information services with library and administrator C) extract, transform, load D) data marts
On January 1, 20X9, Paradox Company acquired all of Sirius Company's common shares, for $365,000 cash. On that date, Sirius's balance sheet appeared as follows: Assets Liabilities Cash and Receivables$50,000 Current Payables$30,000 Inventory 80,000 Notes Payable 50,000 Land 50,000 Stockholders' Equity Buildings and Equipment(net) 200,000 Common Stock 100,000 Additional Capital 150,000 Retained Earnings 50,000 Total$380,000 Total$380,000 The fair values of all of Sirius's assets and liabilities were equal to their book values except for inventory that had a fair value of $85,000, land that had a fair value of $60,000, and buildings and equipment that had a fair value of $250,000. Buildings and equipment have a remaining useful life of 10 years with
zero salvage value. Paradox Company decided to employ push-down accounting for the acquisition. Subsequent to the combination, Sirius continued to operate as a separate company.Based on the preceding information, what amount of differential will arise in the consolidation process? A. $15,000 B. $0 C. $65,000 D. $5,000