In Chapter 13 bankruptcy, there is a confirmation plan worked out by the trustee
a. True
b. False
Indicate whether the statement is true or false
True
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Line filling, if overdone, may result in self-cannibalization and increased customer loyalty
Indicate whether the statement is true or false
The Consumer Leasing Act:
A. applies to leases of consumer goods if the total contractual obligation exceeds $25,000. B. requires the creditor to disclose the aggregate costs of leasing consumer goods. C. applies to leases of consumer goods only if the leases are for more than three months. D. does not require the lease agreement to define the consumer's liability.
The unexpired cost of a plant asset is referred to as its
a. depreciable cost. b. carrying value. c. accumulated depreciation. d. original cost.
On January 1, Year 1, Rickson Corporation purchased 7,500 shares of AutoTech as an equity method investment for a total of $235,000. The 7,500 shares represent 30% of the outstanding (25,000) shares of AutoTech. Prepare the journal entries for Rickson to record the following transactions and events:Dec. 31, Year 1:AutoTech reported net income of $66,000 for Year 2.Feb. 1, Year 2:Sold 1,875 of the AutoTech shares for $33 per share. ??Nov. 1, Year 2:Rickson received a $0.90 per share cash dividend from AutoTech.Dec. 31, Year 2:AutoTech reported net loss of $46,000 for Year 2.
What will be an ideal response?