Franklin Company had $100,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $16,000. The company's accounts receivable turnover was closest to:
A) 10 times
B) 6.25 times
C) 3.85 times
D) 7.69 times
D
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You have been hired as an assistant manager for a regional division of a large retail store that sells consumer electronics. The store manager has asked you to determine the break-even price for a new line of cell phones the store is carrying. You expect to sell 500 cell phones a month, which have a marginal cost of $50. If your fixed costs are $5,000 per month, what is the break-even price?
A. $50 B. $100 C. $60 D. $10
In which of the following situations will a smaller sum be unable to discharge a larger debt?
A) If the smaller sum is paid before the due date of the larger debt. B) If an additional article or service is given together with the payment of the smaller sum. C) If the smaller sum is paid when the larger sum would ordinarily be due, but the debtor is on the verge of insolvency. D) A smaller sum is never able to discharge a larger debt.
A vertical portal is an exchange formed and operated by a group of major companies in an industry to provide industry-wide transaction services
Indicate whether the statement is true or false
______ is the most preferred way for one to deal with budget deficits.
A. Liquidating savings and investments B. Borrowing money from relatives C. Cutting low-priority expenses D. Increasing income E. Paying all short-term liabilities