Investments in bonds that management intends to hold to maturity are called trading securities
a. True
b. False
Indicate whether the statement is true or false
False
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Mercedes Company paid $20,000,000 to acquire 100% of the outstanding common stock of Benz Incorporated on January 1, 2018. The book value of Benz's net assets on the date of acquisition was $17,000,000. Benz's buildings were undervalued by $1,500,000 as of January 1, 2018; the buildings had a ten-year remaining life as of the date of acquisition. There are no other book-to-fair value differences for the other assets and liabilities of Benz. Mercedes retained earnings as of January 1, 2018 was $5,750,000, while Benz reported retained earnings of $3,175,000. Mercedes net income was $1,750,000 during 2018 and was $2,035,000 during 2019; the 2018 and 2019 net income amounts did not include any amounts pertaining to the Benz investment. Benz's retained earnings increased $1,050,000 from
January 1, 2018 to December 31, 2019 even though Benz declared $225,000 of dividends during that two-year period.Required:Determine the December 31, 2019 consolidated retained earnings balance. What will be an ideal response?
A board of directors hired a consultant to evaluate their nonprofit organization’s legal compliance. According to Paton’s dashboard, the nonprofit is assessing the organization’s ______.
A. risks B. assets C. capabilities D. underlying performance
Fair value is defined as:
a. the price that a willing buyer is willing to pay for a business transactions. b. the sales price associated with an actual or potential business transaction between market participants. c. the exchange price associated with a business transaction between sales participants. d. the exchange price associated with an actual or potential business transaction between market participants.
You must announce to customers that your restaurant will no longer be open on Sundays. Which of the following uses passive-voice verbs to deliver the bad news?
A) We closed our restaurant on Sundays beginning last month. B) Because few customers dine with us on Sundays, we decided to close our restaurant on this weekday. C) Beginning last month, our restaurant was closed on Sundays. D) Management decided that it must close our restaurant on Sundays.