To be considered an accredited, investor an individual must have a net worth of at least:
a. $50,000 b. $100,000 c. $1 million
d. $2.5 million e. $5 million
c
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Inventory should be valued using the lower-of-cost-or-market rule.
Answer the following statement true (T) or false (F)
Calculate and indicate the overall reliability of the system.
Consider a product that has three components arranged in series as shown in the following figure:
A. 0.857
B. 0.986
C. 0.727
D. 0.675
Robin and Jeff own an unincorporated hardware store. They determine their salaries at the end of the year by using the amount required to reduce the net income of the hardware store to $0. Based on this policy, Robin and Jeff each receive a total salary of $125,000. This is paid as follows: $8,000 per month and $29,000 on December 31. Determine the amount of the salary deduction.
What will be an ideal response?
On January 1, Year 1, the Mahoney Company borrowed $324,000 cash from Sun Bank by issuing a five-year 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, Year 1. The annual payment on the loan based on the present value of annuity factor would be $81,150.Which choice reflects the financial statement effects of the cash payment on December 31, Year 1? Assets=Liab.+EquityRevenue?Expense=Net Inc.Cash flowA.?=?+?NA?+=??FA/?OAB.?=?+NANA?NA=NA?FAC.?=++?NA?+=??FA/?OAD.?=?+NANA?+=??OA
A. Choice A B. Choice B C. Choice C D. Choice D