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Which of the following statements about required disclosures in segmental reporting is not true?
A. No more than ten segments may be reported.
B. The name of each major customer does not have to be disclosed.
C. Even if there is only one reportable segment, the company must report revenues from external customers for each product or service or each group or related products or services.
D. Segmental information must be included in interim reporting.
Andree is about to graduate college with a management degree. She has been offered a job as a sales representative for a pharmaceutical company. The job will require significant travel and entertainment expenses for which she will be given a salar..
Nessumsar compay develops educational materials. It has a cost of debt after taxes of 6.8% and a cost of equity of 10.9%. The company finances with 45% debt. Calculate its cost of capital.
Staley Company has a standard of 1.5 pounds of materials per unit, at $4 per pound. In producing 2,000 units, Staley used 3,100 pounds of materials at a total cost of $12,090. Staley's materials price variance is:
On 12/31/09, the ABC Co. had Retained Earnings of $400,000. During 2010, dividends of $3,000 were paid. There was a net income of $4,000 for the year 2010. What should be the balance in Retained Earnings on the 12/31/10 Balance Sheet?
Tanner Company was acquired for cash in a transaction that created goodwill. At what amounts will the building and land be reported in the consolidated balance sheet immediately following the purchase?
Ignoring income taxes, the amount reported in Horton's 2010 income statement as a result of Horton's available-for-sale investment in Lopez was:
As stipulated, your company is having financial difficulty and has asked the bank to restructure its $3 million note outstanding. The present note has 3 years remaining and pays a current interest rate of 10%.
Production personnel estimate that the 75,000 units still in process on June 30 are 100% complete with respect to materials and 40% complete with respect to conversion costs.
In taking a physical inventory on December 31, Jensen counted all goods on hand and priced the inventory on the basis of average cost. The total amount was $600,000. No goods in transit were included in this figure.
The Austin Land Company sold land for $85,000 in cash. The land was originally purchased for $65,000, and at the time of the sale, $40,000 was still owed to Regions Bank on that purchase. After the sale, The Austin Land Company paid off the loan t..
If a partner withdraws from a partnership and receives more cash than the amount recorded in the appropriate capital account, what accounting does the business make of the excess payment?
Analyze the impact of erroneous classifications in the operating activities section of the cash flow statement on free cash flow and how this distortion can impact the decisions made by financial statement users.
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