Demand risk refers to the probability that actual supply for the products or services will exceed anticipated supply
Indicate whether the statement is true or false
FALSE
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Assume the current ratio is 3 to 1 . Estimating the warranties expense on the period's sales would cause the current ratio to
a. increase b. decrease c. be unchanged since the effects offset one another d. be unchanged since it has no effect on any current accounts
Certain differences exist between IFRS and U.S. GAAP financial statement reporting. Which of the following is false?
A) ?IFRS presents a different ordering of the liabilities and shareholders' equity sections. B) ?IFRS allows the upward revaluation of property, plant, and equipment. C) ?IFRS does not require a statement of cash flows. D) ?IFRS financial statements are similar to U.S. GAAP.
Valley, Inc. has 9000 shares of preferred stock outstanding. The preferred stock has a $90 par value, a 14% dividend rate, and is noncumulative. If Valley has sufficient funds to pay dividends, what is the total amount of dividends that will be paid out to preferred stockholders?
A) $32,143 B) $113,400 C) $57,857 D) $8100
Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the customer. What entry is required in the company's accounts?
A) debit Notes Receivable; credit Cash B) debit Cash; credit Miscellaneous Income C) debit Cash; credit Notes Receivable D) debit Accounts Receivable; credit Cash