Goals are different from plans because ________
A) goals identify specific steps that the organization needs to achieve, and plans identify the overall mission of the organization
B) goals describe financial objectives, and plans describe objectives related to social responsibility
C) goals are important only for small companies, and plans are important only for large companies
D) goals are desired outcomes, and plans describe how those outcomes will be accomplished
Answer: D
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Paglia Corporation owns 80% of Aburn Corporation and has separate net income of $200,000 for 2013. Aburn Corporation has separate net income of $100,000 and owns 70% of the outstanding stock of Badley Corporation
Badley Corporation has separate net income of $80,000. (Separate net incomes exclude investment income.) The cost of each investment was equal to book value and fair value. The controlling interest share of consolidated net income for 2013 is A) $324,800. B) $328,800. C) $344,800. D) $348,800.
In an unadjusted trial balance, the accounts are not yet ready for the preparation of the company's financial statements
Indicate whether the statement is true or false