Which of the following is true of defined contribution (DC) pension plans?

Which statement about the Statement of Cash Flows is incorrect?

Which of the following would be a cash flow from investing activities?

A company reported total Stockholders’ Equity of $540,000 at December 31, 2019, with 120,000 common shares outstanding.  During the year ended December 31, 2020, the company reported the following: 3/31/2020- Issued 10,000 shares of $3 par value common stock at $42 per share. 7/1/2020- Purchased for treasury 1,000 shares of $3 par value common stock at $10 per share. 8/31/2020- Incurred an Other Comprehensive Loss of $12,000. 9/30/2020- Paid a cash dividends of $.50 per common share. Net Income for the year $58,900. What is the amount of Stockholders’ Equity as of December 31, 2020?

XYZ Company provided the following data about its common stock: Par value is $1 per share. 12,000,000 shares are authorized. 3,900,000 shares are outstanding. 4,800,000 shares are issued. How many shares of treasury stock are there?

A company provided the following data: sales, $150,000; sales returns, $8,000; ending inventory, $40,000; net purchases of inventory, $85,000; and gross profit, $37,000. What was the amount of beginning inventory?

A company uses the periodic inventory system. Ending inventory was overstated at the end of year 1. Which of the following statements is true about the effects of this error on year 2 financial statement elements if the error is detected in year 2? There were no other inventory errors.

Which of the following would be added to net income when determining cash flows from operating activities by the indirect method?

Which of the following statements is correct when inventory unit costs are decreasing?

ABC Ltd. uses the periodic inventory system and provided the following data: Date Units Cost Per Unit 1/2 Beginning Inventory 120 $80 4/3 Purchase 150 $85 5/9 Sale 175 9/18 Purchase 140 $86 10/17 Sale 180 11/5 Purchase 120 $88 What is Cost of Goods Sold using the FIFO cost flow assumption?