As a normal rule of thumb, which of the following statements is true?

A. Par value exceeds the issue price of common stock.

B. Par value is correlated to dividends on common stock.

C. Par value is correlated to dividends on preferred stock.

D. Par value is equivalent to total paid in capital.

E. None of these.

In an effort to concentrate its resources in more profitable areas, Southern Steel Corporation recently sold its family pizza restaurant segment. The disposal constitutes:

A. an extraodinary item.

B. a discontinued operation which should be treated as a prior period adjustment.

C. a discontinued operation which should be disclosed net-of-tax effects.

D. a portion of income from continuing operations.

E. None of these.

Which of the following events are considered as extraordinary by the accounting profession?

A. Write-down or write-off of receivables, inventories, and intangible assets.

B. Gains and losses on the disposal of a business segment.

C. Gains and losses from the sale or abandonment of property, plant, and equipment.

D. Effects of a strike, including those against competitors and major suppliers.

E. None of these.

Which of these acronyms is generally not applicable to some form of inventory management?

A. RFID.

B. JIT.

C. EOQ.

D. POP.

E. None of these.

The formula for calculating return on investment (ROI) can be reduced to:

A. margin divided by turnover.

B. sales divided by assets.

C. income divided by sales.

D. assets divided by income.

E. None of these.