For a corporation, direct investment from owners occurs when:
A. it sells newly issued stock.
B. its earnings are used for debt financing.
C. it issues commercial paper.
D. it pays dividend to its debenture holders.
Answer: A
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Assume that a company records purchases net of discount. If the company bought merchandise valued at $15,000 on credit terms 3/15, net 30, the entry to record a payment for half of the purchase within the discount period would include a debit to
a. Accounts Payable for $7,275 and a credit to Cash for $7,275 b. Accounts Payable for $7,500 and a credit to Cash for $7,500 c. Accounts Payable for $7,275 and to Interest Expense for $250, and a credit to Cash for $7,500 d. Accounts Payable for $7,275 and to Interest Revenue for $250 and a credit to Cash for $7,500.
________ is the process of reaching an agreement through discussion between two parties to a dispute
A. Inquiry B. Mediation C. Negotiation D. Conciliation
Accounting transactions are recorded chronologically in a:
a. journal b. ledger c. financial statement d. bookkeeper’s ledger e. general ledger
MRP II is accurately described as:
A) MRP software designed for services. B) MRP with a new set of computer programs that execute on microcomputers. C) material resource planning. D) an enhancement of MRP that plans for all levels of the supply chain. E) a new generation of MRP software that extends MRP to planning and scheduling functions.