In cross-sectional analysis, a firm's financial ratios are
A) judged against the performance of firms in the same industry.
B) compared with the firm's ratios from the most recent period.
C) compared with ratios from all firms.
D) compared with a general standard.
E) plotted over time to isolate trends.
A
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On January 1, 2019, Triangle Company has the following account balances:
During the year, Triangle has $165,000 of credit sales, collections of credit sales of $143,000, and write-offs of $3000. It records bad debts expense at the end of the year using the aging-of-receivables method. At the end of the year, the aging analysis shows that $2100 is the estimate of uncollectible accounts. Before the year-end entry to adjust the bad debts expense is made, the balance in the Allowance for Bad Debts is ________.
A) a debit of $1700
B) a credit of $4300
C) a zero balance
D) a debit of $3000
Which ethical principle asks you to assume that virtually all tangible and intangible objects are owned by someone else unless there is a specific declaration otherwise?
A. the Golden Rule B. the Slippery Slope C. the Social Contract Rule D. No Free Lunch
__________ are labor organizations that represent various groups of professional and white-collar employees in labor management relations.
A. Craft unions B. Industrial unions C. Employee associations D. Management clubs
Your daughter has been saving $500 a year for each of the last 10 years for her "sweet sixteen" party. How much is now in her party account (at the end of the tenth year) if she earned an annual rate of return of 6%?
A) $6,590.40 B) $7,680.04 C) $5,300.00 D) $8,714.84