The interest-rate measure often quoted on short-term loans and money market securities such as U.S. Treasury bills is the
A. bank discount rate.
B. yield to maturity.
C. annual percentage rate.
D. net interest margin.
E. None of the options is correct.
A. bank discount rate.
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Exhibit 8-3 The J. Love Company uses a periodic inventory accounting system and values its inventory by using the lower of cost or market rule. The allowance method is used in applying the lower of cost or market rule. The company adjusts and closes its books annually on December 31. Below are the cost and market values of the company's year-end inventories for a three-year period: Date Cost
Market December 31, 2016 $70,000 $70,000 December 31, 2017 56,000 46,000 December 31, 2018 64,000 58,000 ? ? Refer to Exhibit 8-3. Which of the following journal entries would be correct as of December 31, 2017, to apply the lower of cost or market rule to the valuation of inventory? A) Inventory 46,000Income Summary 46,000 B) Loss Due to Market Valuation 10,000Allowance to Reduce Inventoryto Market 10,000 C) Cost of Goods Sold 10,000Inventory 10,000 D) Cost of Goods Sold 10,000Allowance to Reduce Inventoryto Market 10,000
Which of the following statements is CORRECT?
A. If a firm has high current and quick ratios, then it must be managing its liquidity position well. B. If a firm sold some inventory for cash and left the funds in its bank account, then its current ratio would probably not change much, but its quick ratio would decline. C. If a firm sold some inventory on credit, then its current ratio would probably not change much, but its quick ratio would decline. D. If a firm sold some inventory on credit as opposed to cash, then there is no reason to think that either its current or quick ratio would change. E. The inventory turnover ratio and days sales outstanding (DSO) are two ratios that are used to assess how effectively a firm is managing its current assets.
Book value per share is the ratio of ________
A) common stock equity to number of outstanding common shares B) retained earnings to number of outstanding common shares C) fixed assets to number of outstanding common shares D) total liabilities to number of outstanding common shares
A(n)_________is created by will and which becomes effective upon the death of the testator. The document will separate legal and equitable title
Fill in the blank(s) with correct word