Five of eight internally reported operating segments of Rollins Company qualify under the standards set by ASC 280 for segment reporting. However, the five identified segments do not meet the 75 percent revenue test. ASC 280 prescribes that management:
A. subdivide segments until there are at least 10 reportable segments.
B. consolidate the remaining operating segments and include them under an "all other" category.
C. include the heading "corporate headquarters" as an operating segment.
D. select additional operating segments until the 75% threshold is met.
Answer: D
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Labor unions are considered the quintessential form of independent employee representation because:
A. They are most likely to take management's perspective into consideration. B. They are partly influenced and operated by management. C. They are independent of managerial authority. D. They are independent of both employer and employee influence.
Pseudo Drugs Inc. is convicted of trafficking in counterfeit prescription drugs. As a penalty, the company may be ordered to pay restitution to the trademark holders in an amount equal to
A. their lost net profits. B. the retail prices of the genuine drugs. C. Pseudo’s profits from the sale of the counterfeit drugs. D. the retail prices of the counterfeit drugs.
Westwood Clothing Store reported the following selected items at June 30, 2017 (last year - 2016 - amounts are also given as needed)
Cash $ 80,000 Accounts Receivable, net: June 30, 2017 June 30, 2016 45,000 53,000 Accounts Payable 55,000 Cost of Goods Sold 288,000 Merchandise Inventory June 30, 2017 June 30, 2016 70,000 90,000 Net Credit Sales Revenue 480,000 Long-Term Assets 220,000 Long-Term Liabilities 140,000 Other Current Assets 150,000 Other Current Liabilities 130,000 Short-term Investments 40,000 Compute Westwood's acid-test ratio for 2017. Show your computations. (Round the answer to 2 decimal places.) What will be an ideal response
The agent is personally liable upon a contract she enters into with a third person on behalf of an undisclosed principal
Indicate whether the statement is true or false