A company may issue multiple classes of preferred stock
Indicate whether this statement is true or false.
Answer: TRUE
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Which of the following sections of the statement of cash flows include purchases and sales of long-term assets?
A) the financing activities section B) the operating activities section C) the investing activities section D) the non-cash investing and financing section
Which of the following is NOT a reason that nonprofits traditionally have lower salaries?
a. The culture of many nonprofits is one of sacrifice b. donors expect revenues to go for services, not salaries c. All nonprofits have small budgets d. Nonprofit work is sometimes viewed as "women's work" and is historically underpaid e. Scandals about extravagant salaries or outrageous perquisites at organizations such as the United Way or the Smithsonian Institution have put pressure on nonprofits to keep executive salaries low.
The major advantage of a sole proprietorship is:
A) Limited liability. B) Easy to raise capital. C) Easy to create. D) Need not file under a fictitious name statute.
Determine Mr. Smith's 2019 filing status in each of the following independent cases.a. Mr. Smith and Mrs. Smith were legally divorced on December 1. Mr. Smith has not remarried and has no dependent children.b. Mr. Smith and the first Mrs. Smith were legally divorced on February 10. Mr. Smith remarried the second Mrs. Smith on December 5. He has no dependent children.c. Mrs. Smith dies on June 22. Mr. Smith has not remarried and has no dependent children.d. Mrs. Smith died on November 1, 2017. Mr. Smith has not remarried and maintains a home for one dependent child.e. Mrs. Smith died on April 3, 2018. Mr. Smith has not remarried and has no dependent children.f. Mr. and Mrs. Smith were legally divorced on September 10, 2016. Mr. Smith has not remarried and maintains a home for his two
dependent children. What will be an ideal response?