If an Associate or Joint Venture Has Outstanding Cumulative Preference

question 21

Multiple Choice

If an associate or joint venture has outstanding cumulative preference shares that are held by parties other than the entity and classified as ____________, the entity computes its share of profits or losses after adjusting for the dividends on such shares, whether or not the dividends have been declared.

• A)debt or equity
• B)debt
• C)equity
• D)earnings.

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Definitions:

Health Inspectors

Officials responsible for ensuring compliance with public health regulations and standards, especially in food establishments, housing, and workplaces.

Closed Shop

A labor arrangement whereby all employees must be members of a specific union before being hired, typically agreed upon through union and employer negotiations.

Taft-Hartley Act

A United States federal law that restricts the activities and power of labor unions.

Outlawed

Describes something that has been prohibited or made illegal by law or regulatory authority.