If you use credit, what are you creating?

Tax return preparers may generally rely on a client's representations without verification unless: A.) the information seems incorrect, inconsistent, or incomplete. B.) the client is new to the preparer. C.) the client is incompetent. D.

What is the real average hourly wage in 2009? a. $8.61 b. $8.21 c. $7.92 d. $17.42 what can be said about real average hourly earnings and nominal average hourly earnings between 2008 and 2010? a.

On January 1, 2011, Pacer Company paid $1,920,000 for 60,000 shares of Lennon Co.'s voting common stock which represents a 45% investment. No allocation to goodwill or other specific account was made.

North Company has completed all of its operating budgets. The sales budget for the year shows 50,160 units and total sales of $2,228,200. The total unit cost of making one unit of sales is $24.

Rita and Susan want to form and do business as Trips & Travel Agency, Inc. They will serve as the firm's directors and officers, and will initially hold all of the stock in the company. A corporation is owned by: A) the board of directors.

On December 2, Coley Corp. acquired 1,400 shares of its $3 par value common stock for $24 each. On December 20, Coley Corp. resold 1,000 shares for $10 each. Which of the following is correct regarding the journal entry for the resold shares? A.

Magney, Inc., uses the absorption costing approach to cost-plus pricing described in the text to set prices for its products. Based on budgeted sales of 38,000 units next year, the unit product cost of a particular product is $61.50.

If import restrictions prohibit foreigners from selling various goods and services in the U. S. market, a. the U. S. will be able to export more goods abroad. b. foreigners will have fewer U. S. dollars with which to buy U. S. goods and services. c.

Carmel Corporation is considering the purchase of a machine costing $36,000 with a 6-year useful life and no salvage value.

Abbott Landscaping purchased a tractor at a cost of $40,000 and sold it three years later for $20,300. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $2,500 residual value.