A quick ratio that is about equal to the current ratio indicates that
A) inventories represent a large portion of current assets.
B) the company has a low inventory turnover.
C) inventories represent a small portion of current assets.
D) the company has a high inventory turnover.
C
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The written record that forms the basis for the auditor's conclusions is referred to as what?
a. Audit documentation. b. Audit adjustment. c. Accounting records. d. Footing.
Webb Company purchased 90% of Jones Company for $990,000 when the book value of Jones was $1,000,000. There was no premium paid by Webb. Jones currently has 100,000 shares outstanding and a book value of $1,200,000.Jones sells 20,000 shares of previously unissued shares of its common stock to outside parties for $10 per share.What is the adjusted book value of Jones after the sale of the shares?
A. $1,400,000. B. $1,280,000. C. $1,050,000. D. $1,440,000. E. $200,000.
What should a salesperson do after finishing the sales presentation?
A. Wait for a positive response from the buyer. B. Use a trial close to determine the attitude of the product. C. Ask questions to assess the amount of knowledge gained by the prospect. D. Present proof statements. E. Ask for the order after fully doing the presentation.
Congress enablesthe Environmental Protection Agency to regulate air and water pollution. This congressional act is
a. divine right. b. adelegation of legislative power. c. agap-filling power. d. arbitrary and capricious.