If a buyer accepts any part of a commercial unit of goods, she is considered to have accepted the whole unit.
Answer the following statement true (T) or false (F)
True
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One way analysts measure the ability of a company to meet its obligations is to calculate the times interest earned ratio for any outstanding debt the company may have. For Tempo Solutions Corporation, $10,000 of bonds paying 6.5% annually are outstanding. Income before interest and taxes is $7,000 . How would Tempo Solutions Corporation calculate the times interest earned ratio?
a. Income before interest and taxes divided by the interest expense. b. Income before interest and taxes divided by carrying value of the bonds outstanding. c. Income before interest and taxes divided by the face rate on bonds. d. Face amount of bonds divided by income before interest and taxes.
A bankrupt person's estate is administered by the ________.
A. trustee B. bankruptcy court C. creditors' committee D. creditors
Which of the following professional associations has an interest in the accounting standard-setting process?
a. The AICPA b. The Financial Executives Institute (FEI) c. The American Accounting Association (AAA) d. All of the above
If fixed costs increase, and all other factors remain the same, the margin of safety will become larger
Indicate whether the statement is true or false