The following information pertains to Jet Corp. outstanding stock for Year 1:
What are the number of shares Jet should use to calculate Year 1 earnings per share?
(A)40,000
(B)45,000
(C)50,000
(D)54,000
Which one of the following is least likely an advantage associated with a wholly owned foreign subsidiary?
(A)Protection of proprietary information. (B)Ability to coordinate activities of the subsidiary with other activities. (C)Ability to maintain quality control. (D)Minimizes capital investment required.
Correct Answer: D
When can I take the CPA Exam
The CPA Exam is offered four times each year: January 1 – March 10, April 1 – June 10, July 1 – September 10 and October 1 – December 10.
Cartman's Cats had a total of 100,000 shares of common stock issued. In February, they reacquired 20,000 shares and did not retire them. How many shares of outstanding stock do they currently have? Mark one answer:
(A)100,000 (B)120,000 (C)20,000 (D)60,000 (E)80,000
Correct Answer: E
More CPA Exam Questions
- 1The purchase of treasury stock would be shown under which section on the statement of cash flows? Mark one answer:
- 2If Jenny's Bakery purchased an insurance policy, assuming the accrual accounting method is still being used, when would the company report the cost of the policy as an expense?
- 3The purpose of the trial balance is to:
- 4Doug’s Doohickeys sells hardware. His sales have finally reached $1,000,000 annually after years of hard work. Now his accountant has discovered a mistake-Doug misclassified a $2 expense several months ago. His accountant decides to ignore it. What accounting concept does he use to justify this? Mark one answer:
- 5A static budget contains which of the following amounts?