Answer the following statements true (T) or false (F)
1. The balance sheet shows why cash increased or decreased.
2. The statement of cash flows shows where cash came from and how cash was spent.
3. The statement of cash flows is dated the same as the balance sheet.
4. The statement of cash flows explains why net income as reported on the income statement does not equal the change in the cash balance.
1. FALSE
2. TRUE
3. FALSE
4. TRUE
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The Dodd-Frank Act requires that the FDIC restore its Deposit Insurance Fund to a healthy level by the year
A. 2040. B. 2020. C. 2018. D. 2012.
If a company's flexible budget formula is $11.25 per unit plus $72,100, what would be the total budget for evaluating operating performance if 28,650 units were sold and 38,500 units were produced?
A) $433,125 B) $505,225 C) $811,125 D) $72,100
Which of the following is NOT one of the three critical attributes in order to be a successful social entrepreneur?
a. A specific vision of purpose and goals and objectives of the organization b. A high level of emotional intelligence to make socially conscious decisions c. The ability to use his or her leadership skills to champion the implementation of his or her vision d. The will and motivation to be committed to developing the business
What is the APY on Monty's default or penalty rate?
Monty currently has a Visa card from his bank with the following terms: 18% on purchases, 24% on cash advances with a 4% cash advance fee on the amount, and a default or penalty rate of 36%. His current statement shows a balance of $6,000. So far he has only taken one cash advance, withdrawing $1,000 from a casino in Las Vegas a year ago, which he has already paid off. Lately he has been having a hard time paying more than the minimum payment of 4% of his balance. The only assets he owns are a seven-year-old car and a $2,500 certificate of deposit that has a 5% APR. A) 36% B) 36.99% C) 42.58% D) 48.66%