State constitutions are supreme within their respective borders
a. True
b. False
Indicate whether the statement is true or false
True
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Only certain specified individuals, and not members of the general public, can be incidental beneficiaries of contracts.
Answer the following statement true (T) or false (F)
A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12,000 common shares outstanding. The journal entry to record the declaration of the cash dividend is:
A. Debit Common Dividend Payable $12,000; credit Retained Earnings $12,000. B. Debit Retained Earnings $12,000; credit Common Dividend Payable $12,000. C. Debit Dividend Expense $12,000; credit Common Dividend Payable $12,000. D. Debit Common Dividend Payable $12,000; credit Cash $12,000. E. Debit Dividend Expense $12,000; credit Cash $12,000.
A company used straight-line depreciation for an item of equipment that cost $12,000, had a salvage value of $2,000 and a five-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,200 but its total useful life remained the same. Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life:
A) $1,000 B) $1,800 C) $5,400 D) $2,400 E) $2,000
Child labor provisions in the Fair Labor Standards Act (FLSA) set the minimum age for most employment at _____.
A. 14 years B. 15 years C. 16 years D. 17 years