The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as
A) solvency and leverage
B) solvency and profitability
C) solvency and liquidity
D) solvency and equity
B
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Both internal and external factors can influence the pricing decision
Indicate whether the statement is true or false
Sales for the year were $650,000 . Trade receivables were $45,000 and $50,000 at the beginning and end of the year, respectively. Cash received from customers to be reported on the cash flow statement using the direct method is ________
a. $645,000 b. $655,000 c. $605,000 d. $600,000
Consumers tend to remember information inputs that support their feelings and beliefs and forget inputs that do not. This is known as selective
A. exposure. B. distortion. C. retention. D. information. E. organization.
On July 9, Mifflin Company receives an $8,500, 90-day, 8% note from customer Payton Summers as payment on account. What entry should be made on July 9 to record receipt of the note?
A. Debit Notes Receivable $8,500; credit Accounts Receivable $8,500. B. Debit Notes Receivable $8,670; credit Sales $8,670. C. Debit Accounts Receivable $8,500; credit Sales $8,500. D. Debit Notes Receivable $8,500; credit Sales $8,500. E. Debit Notes Receivable $8,725; credit Interest Revenue $225; credit Accounts Receivable $8,500.