Anchor Company purchased a manufacturing machine with a list price of $99,000 and received a 2% cash discount on the purchase. The machine was delivered under terms FOB shipping point, and transportation costs amounted to $5000. Anchor paid $7200 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $9400 for the first year of operations. What is the cost of the machine?
A. $118,620
B. $102,020
C. $109,220
D. $97,020
Answer: C
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Worldwide Logistics provides the following information:
What is the company's residual income?
A) $200,000
B) $450,000
C) $1,400,000
D) $1,150,000
What argument does Wilson (2011) make with regard to the cause of an array of social problems related to U.S. inner-city poor families?
a. Those currently in power see no benefit in wealth distribution to inner-city poor. b. A legacy of learned helplessness will keep inner-city families poor. c. Blue-collar jobs have been relocated to other countries. d. New technology skills and better health care are allowing the poor to rise out of poverty.
Which of the following classes of U.S. securities have NOT averaged an annual rate of return that exceeds the average annual rate of inflation? (Data from 1926 - 2011)
A) small company stocks B) large company stocks C) 90-day Treasury bills D) All of these classes of securities have averaged higher average annual rates of return than that of the average annual rate of inflation.
GATT requires patent protection for 50 years
Indicate whether the statement is true or false