On June 30, Sugar Co. received a bill for $1400 for running a newspaper ad in June. The bill will be paid in July. Which of the following statements is correct for June?
A. Assets are increased by $1400.
B. Revenues are decreased by $1400.
C. Liabilities are decreased by $1400.
D. Expenses are increased by $1400.
Answer: D
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Which of the following statements about current liabilities is true?
a. Current liabilities are listed in order of decreasing amounts in the current liability section of the balance sheet. b. The amount of current liabilities has little implication for a company's liquidity. c. The current liability section never contains any portion of long-term liabilities. d. The current ratio is defined as current assets divided by current liabilities.
Household Storez, a local retail store, claims to offer better products at lower prices than other retail stores. In this case, the firm's positioning reflects a ________ value proposition
A) more-for-the same B) more-for-less C) same-for-less D) more-for-more E) same-for-more
Which of the following financial statements shows a firm's financing activities (how funds were generated) and investment activities (how funds were used) over a particular period of time?
A. Balance sheet B. Income statement C. Statement of retained earnings D. Statement of cash flows E. Proxy statement
Mario chooses a personal representative to deal with his real estate, bank accounts, and investments after his death. Mario should also choose an online executor.An online executor is responsible for dealing with a decedent's
a. all of the choices. b. e-mail addresses. c. social media profiles. d. blogs.