Refer to the following selected financial information from Marston Company. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year 2 Year 1 Accounts receivable, net86,500 82,750 Net sales723,000 693,000
A. 46.2.
B. 85.4.
C. 43.7.
D. 43.9.
E. 42.7.
Answer: C
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Groups are different from teams because:
a. Groups are typically work-related while teams are sports-related. b. Teams are typically larger than groups. c. Teams involve greater interaction and coordination among members to achieve a common goal. d. Teams are more hierarchical than groups. e. Teams have a leader whereas groups do not.
Vacation pay is considered a contingent liability.
Answer the following statement true (T) or false (F)
The expectations theory postulates that the term structure of interest rates is based on expectations regarding future inflation rates.
Answer the following statement true (T) or false (F)
Eastline Corporation had 10,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 3,000 shares. At the time of the stock dividend, the market value per share was $12. The entry to record this dividend is:
A. Debit Retained Earnings $36,000; credit Common Stock Dividend Distributable $36,000. B. Debit Retained Earnings $36,000; credit Common Stock Dividend Distributable $30,000; credit Paid-In Capital in Excess of Par Value, Common Stock $6,000. C. Debit Retained Earnings $30,000; credit Common Stock Dividend Distributable $30,000. D. Debit Common Stock Dividend Distributable $36,000; credit Retained Earnings $36,000. E. No entry is needed.