If Everly Company Issues 1,000 Shares of $5 Par Value

question 138

Multiple Choice

If Everly Company issues 1,000 shares of $5 par value common stock for $75,000, the account

• A) Common Stock will be credited for $75,000.
• B) Paid-in Capital in excess of Par Value will be credited for $5,000.
• C) Paid-in Capital in excess of Par Value will be credited for $70,000.
• D) Cash will be debited for $70,000.

Identify and explain the mechanisms of self-fulfilling prophecies and their effects on individual and group performance.

Understand the limitations of the authoritarianism concept in explaining prejudice.

Identify characteristics of individuals with a social dominance orientation.

Distinguish between different psychological attitudes and their implications for prejudice and social categorization.

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Definitions:

Operating Cycle

The period it takes for a business to buy inventory, sell products, and generate cash from operations.

Merchandising Company

A business that purchases finished goods for the purpose of resale without further processing.

Credit Sales

Sales made on credit, where payment is received after the goods or services are delivered.

Gross Profit

The difference between revenue and the cost of goods sold, indicating the efficiency of a company in producing and selling its products.