Return on assets is useful in evaluating management, analyzing and forecasting profits, and planning activities.
Answer the following statement true (T) or false (F)
True
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When a company pays an interest-bearing note payable on the due date, the journal entry on the books of the company making the payment includes
a. debiting Notes Payable and Interest Expense and crediting Cash. b. debiting Cash and crediting Notes Payable and Interest Expense. c. debiting Notes Payable and Cash and crediting Interest Revenue. d. debiting Cash and Interest Expense and crediting Notes Payable.
Why do stores locate in saturated trade areas?
A) to decrease competition B) to access high customer traffic C) to take advantage of tax breaks D) to create retailer cooperatives E) to standardize the service mix
Hillary Todd, a manager for BEO Inc, has been told that her bonus this year will be based on the segment margin of her department. Hillary is most likely a:
A) revenue center manager. B) profit center manager. C) production manager. D) cost center manager.
In the United States, financial statements are prepared following the Financial Accounting
Standards Board's generally accepted accounting principles (GAAP). Indicate whether the statement is true or false