No dividend can be paid unless the dividend is declared by the chief executive officer of the corporation
Indicate whether the statement is true or false
F
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The following items were reported on the balance sheets and income statement for the Flying Mullet Company: Accounts receivable, December 31, 2015 $ 85,000 Accounts receivable, December 31, 2016 98,000 Sales—2016 750,000 How would the change in accounts receivable be reported in the operating activities section of the statement of cash flows under the indirect method?
a. As an addition to sales b. As a deduction from sales c. As an addition to net income d. As a deduction from net income
A break-even chart shows the total cost and total revenue expected at various sales volume levels of a product
Indicate whether the statement is true or false
The entry to record a purchase of $6,000 in merchandise assuming terms of 2/10, n/30 and a periodic inventory system would include a(n)
a. increase to Accounts Payable for $6,000. b. increase to Purchases Discounts for $120. c. decrease to Purchases for $6,000. d. decrease to Accounts Payable for $5,880.
Which of the following statements about language translation is FALSE?
a. A translator must work with thoughts in two languages. b. Words in one language may not have equivalent meanings in some other languages. c. Cultural barriers can affect the accuracy of language translation. d. People generally resent the simple efforts of a person of another culture to learn a few common phrases in the new language.