The value that is added to goods through a manufacturing or assembly process is:
a. form utility
b. place utility
c. time utility
d. possession utility
a
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Accumulated Depreciation
a. increases when the monthly adjustment for depreciation is recognized. b. decreases when the monthly adjustment for depreciation is recognized. c. is reported on the income statement with the expense accounts. d. is allocated as an expense during future periods.
Kinard's Kennels Inc ROE is 20%. Their dividend payout ratio is 70%. The last dividend, just paid,
was $2.00. If dividends are expected to grow by the company's internal growth rate indefinitely, what is the current value of Kinard's common stock if its required return is 18%? A) $14.92 B) $17.67 C) $16.89 D) $11.52
When a federal court has exclusive jurisdiction over a matter:
a. state courts may try cases on that matter b. state courts may try cases on that matter if they pay the federal court a fee c. state courts may not try cases on that matter d. state courts may not try cases on that matter unless the federal courts are backlogged e. none of the other choices are correct
Refer to the balance sheet above. Luther's current ratio for 2006 is closest to ________
Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Assets 2006 2005 Liabilities and Stockholders' Equity 2006 2005 Current Assets Current Liabilities Cash 53.6 58.5 Accounts payable 89.2 73.5 Accounts receivable 55.8 39.6 Notes payable / short-term debt 10.3 9.6 Inventories 45.5 42.9 Current maturities of long-term debt 38.6 36.9 Other current assets 5.4 3.0 Other current liabilities 6.0 12.0 Total current assets 160.3 144.0 Total current liabilities 144.1 132.0 Long-Term Assets Long-Term Liabilities Land 66.2 62.1 Long-term debt 228.7 168.9 Buildings 107.7 91.5 Capital lease obligations Equipment 120.6 99.6 Less accumulated depreciation (57.1) (52.5) Deferred taxes 22.8 22.2 Net property, plant, and equipment 237.4 200.7 Other long-term liabilities --- --- Goodwill 60.0 -- Total long-term liabilities 251.5 191.1 Other long-term assets 63.0 42.0 Total liabilities 395.6 323.1 Total long-term assets 360.4 242.7 Stockholders' Equity 125.1 63.6 Total Assets 520.7 386.7 Total liabilities and Stockholders' Equity 520.7 386.7 A) 1.67 B) 2.22 C) 0.56 D) 1.11