When common stock is issued by a corporation for a cash price above par value, the excess of the cash proceeds over the par value should be reported in the financial statements as a component of
a. retained earnings on the balance sheet.
b. total liabilities on the balance sheet.
c. operating income on the income statement.
d. total contributed capital on the balance sheet.
D
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Which of the following statements is true of bankruptcy judges?
A. They are considered to be units of the court of appeals. B. If a dispute falls within a core proceeding, the bankruptcy judge can hear and determine the controversy. C. If a dispute is not a core proceeding but involves a state law claim, then the bankruptcy judge can act as the district court judge. D. They are considered to be units of local circuit courts.
The formula for break-even analysis is:
A. total fixed costs divided by selling price plus marginal contribution. B. total fixed costs divided by selling price minus variable cost per unit. C. total variable costs divided by marginal contribution. D. total sales divided by selling price plus variable cost per unit.
Theo is very open about his religious beliefs. He is very outspoken about a contractor that has recently been selected to deliver a product for your business. Write out a role play with Theo that addresses his concerns, yet does not impact business.
What will be an ideal response?
Richard writes a letter to Sarah authorizing her to sell his car and sends a copy of the letter to Timothy, a prospective purchaser. The next day, Richard sends a letter to Sarah revoking her authority, but he fails to notify Timothy. Sarah:
a. has actual authority to sell the car to Timothy. b. has implied authority to sell the car to Timothy. c. has apparent authority with respect to Timothy to sell the car. d. is empowered under the doctrine of respondeat superior to negotiate the contract.