According to the PLC, the ________ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years

Which of the following transactions would affect cash flows in the current year?

a. Payment of dividends declared in a previous year. b. A write off of an uncollectible account. c. Issuance of stock dividend. d. Recognition of depreciation expense

Which of the following is true of a joint venture corporation?

A) The joint venturers are personally liable for debts of the joint venture corporation. B) Joint venturers do not owe each other fiduciary duties as a venture is a single business transaction. C) The management rights of joint venturers in a joint venture are divided in ratio of their capital investment. D) Each joint venture is liable for the debts and obligations of the joint venture.