T. l. jones trucking services establishes a petty cash fund on april 3 for $200. by the end of april, the fund has a cash balance of $97. the company has also issued a credit card and authorized its office manager to make purchases. expenditures for the month include the following items: utilities (credit card) $435entertainment (petty cash) 44 stamps (petty cash) 59plumbing repair services (credit card) 630record the establishment of the petty cash fund on april 3, all expenditures made during the month, and the replenishment of the petty cash fund on april 30. the credit card balance is paid in full on april 30.

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.