What is the percent of sales method of financial forecasting?
What will be an ideal response?
The percent of sales method involves estimating the level of an expense, asset, or liability for a future period as a
percentage of the sales forecast. The percentage used can come from the most recent financial statement item as a
percentage of current sales, from an average computed over several years, from the judgment of the analyst, or from
some combination of these sources.
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Which of the following business practices does the Sherman Act of 1890 prohibit?
A) limiting production B) betting C) licensing trademarks D) direct investments
Krech Corporation's comparative balance sheet appears below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Current assets: Cash and cash equivalents$31,000 $28,000 Accounts receivable 18,000 20,000 Inventory 58,000 56,000 Prepaid expenses 12,000 10,000 Total current assets 119,000 114,000 Property, plant, and equipment 374,000 354,000 Less accumulated depreciation 190,000 165,000 Net property, plant, and equipment 184,000 189,000 Total assets$ 303,000 $ 303,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable$13,000 $9,000 Accrued liabilities 52,000 53,000 Income taxes payable 67,000 69,000 Total current
liabilities 132,000 131,000 Bonds payable 76,000 73,000 Total liabilities 208,000 204,000 Stockholders' equity: Common stock 28,000 26,000 Retained earnings 67,000 73,000 Total stockholders' equity 95,000 99,000 Total liabilities and stockholders' equity$ 303,000 $ 303,000 The company's net income (loss) for the year was ($3,000) and its cash dividends were $3,000. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities.The company's net cash provided by (used in) investing activities is: A. $(20,000) B. $(22,000) C. $(45,000) D. $(5,000)
Grover signs an installment contract with Home Appliance Store to finance the purchase of new kitchen appliances—stove, refrigerator, dishwasher, microwave, and toasteroven—for $3,999 . This transaction is subject to
a. no federal law. b. the Fair Credit Reporting Act. c. the Telecommunications Act. d. the Truth-in-Lending Act.
The AMA defines marketing as "The activity, set of institutions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."
Answer the following statement true (T) or false (F)