The reasons section of a bad-news message need not emphasize how the audience will benefit from a decision
Indicate whether the statement is true or false
False
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Prairie Charters reported the following information at December 31, 2016: Common stock, $1 par, 500,000 shares authorized, 100,000 shares issued $100,000 Additional paid-in capital—Common 25,000 Retained earnings 75,000 Total stockholders' equity $250,000 The average recorded value per share of common stock at December 31, 2016, is
a. $1.00 b. $1.75 c. $1.25 d. $2.50
Which of the following is recommended to improve corporate governance?
a. Getting directors involved in the day-to-day management issues of the firm. b. Instituting an employee vote to hire or fire the CEO. c. Setting up “golden parachutes” for CEOs. d. Instituting a “cradle-to-grave” conceptualization of all new products. e. Ensuring that directors are clearly separated in their authority from the CEO.
If the allowance method of accounting for uncollectible receivables is used, what general ledger account is debited to write off a customer's account as uncollectible?
A) Uncollectible Accounts Expense B) Allowance for Doubtful Accounts C) Accounts Receivable D) Interest Expense
Ezra, an accountant, intentionally misstates a material fact to mislead Fruit Packing, Inc, a client. Fruit Packing justifiably relies on the misstatement to its detriment. Ezra is most likely liable for
a. actual fraud. b. constructive fraud. c. destructive fraud. d. virtual fraud.