Turn?offs of services must be authorized in the bylaws to be a means of enforcement of assessments
Indicate whether the statement is true or false
True
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A bond with a carrying value of $790,000 was converted into 100,000 shares of $5 per share par value common stock at a time when the market value per share was $9.00 per share. Which of the following statements does not accurately describe the financial accounting for the conversion?
A. Total owners' equity increases $790,000 if the book value method of recording the conversion is used. B. A loss of $110,000 will be recognized if the market value method of recording the conversion is used. C. Total owners' equity increases $900,000 if the market value method of recording the conversion is used. D. Total owners' equity increases $790,000 if the market value method of recording the conversion is used.
What is data converted into a meaningful and useful context?
A. Buyer power B. Information C. Competitive intelligence D. First-mover advantage
Select the incorrect statement regarding cost structures.
A. Faced with significant uncertainty about future revenues, a low leverage cost structure is preferable to a high leverage cost structure. B. The more variable cost, the higher the fluctuation in income as sales fluctuate. C. Highly leveraged companies will experience greater profits than companies less leveraged when sales increase. D. When sales change, the amount of the corresponding change in income is affected by the company's cost structure.
An estimated liability:
A. Is an unknown liability of a certain amount. B. Can be the result of a lawsuit. C. Is not recorded until the amount is known for certain. D. Is a liability that may occur if a future event occurs. E. Is a known obligation of an uncertain amount that can be reasonably estimated.