Liquidation rules generally are applied the same to the following organizations except for
A) subsidiary corporations (80% controlled).
B) C corporations.
C) S corporations.
D) subsidiary corporations (less than 80% controlled).
A) subsidiary corporations (80% controlled).
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Answer the following statements true (T) or false (F)
1. An excellent service strategy has three characteristics: quality, value, and service. 2. Generation Z is comprised of those born in the year 1997 or later. 3. The five key areas in which action plans should be established are Management, Sales, Capacity Utilization, Finance, and Marketing. 4. Good plans attempt to bring rationality and stability to the organization’s operations and efforts.
Winkler Company borrows $87,000 and pledges its receivables as security. The journal entry to record this transaction would be:
A. Debit Note Receivable $87,000 and credit Accounts Receivable $87,000. B. Debit Cash $87,000 and credit Notes Payable $87,000. C. Debit Cash of $87,000 and credit Accounts Payable $87,000. D. Debit Cash of $87,000 and credit Accounts Receivable $87,000. E. Debit Accounts Receivable $87,000 and credit Notes Payable $87,000.
A column in journals and ledger accounts that is used to cross reference journal and ledger entries is the:
A. Account balance column. B. Debit column. C. Posting reference column. D. Description column. E. Credit column.
Brown Company's net income last year was $90,000 and its interest expense was $15,000. Total assets at the beginning of the year were $640,000 and total assets at the end of the year were $680,000. The company's income tax rate was 40%. The company's return on total assets for the year was closest to:
A) 14.5% B) 15.0% C) 13.6% D) 15.9%