The key input to the short-term financial planning process is ________.
A) the audit report
B) the pro forma balance sheet
C) the sales forecast
D) the pro forma income statement
C) the sales forecast
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If a fixed asset with a book value of $10,000 is traded for a similar fixed asset, a trade-in allowance of $15,000 isgranted by the seller, and the transaction is deemed to have commercial substance, the buyer would report a gainon exchange of fixed assets of $5,000
a. True b. False Indicate whether the statement is true or false
Torts are private wrongs against persons or property.
Answer the following statement true (T) or false (F)
A new manufacturing machine is expected to cost $278,000, have an eight-year life, and a $30,000 salvage value. The machine will yield an annual incremental after-tax income of $35,000 after deducting the straight-line depreciation. Compute the accounting rate of return for the investment.
A. 23.4%. B. 12.2%. C. 24.5%. D. 22.7%. E. 46.9%.
A(n) ____ signs an instrument to lend his credit to an instrument, and his liability is determined by the capacity in which he signs
A) indorser B) accommodation party C) authorized agent D) maker