Which of the following would not likely be a reason for preparing personal financial statements?
a. Obtaining personal credit
b. Determining the tax basis of marketable securities
c. Income tax planning
d. Retirement planning
e. Estate planning
B
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Which of the following strategies is used to deal with uncertainty related to a specific event?
a. Statistical analysis b. Cost restructuring c. Hedging d. Insurance
Which of the following is the best example of a determinant characteristic for airline travel?
a. Oxygen masks b. Plane size c. Availability of frequent flier miles d. Having cocktail service e. Floatation devices
The off-retail markdown percentage equals average dollar markdown as a percent of net sales
Indicate whether the statement is true or false
Dragonstone Corp. had net income of $32,000. Accounts Receivable increased by $3,000; accounts payable decreased by $4,000. Depreciation expense for the year was $1,400. Additional transactions include: the purchase of land in exchange for stock $55,000; the sale of treasury stock $3,500; issued bonds $3,000; acquired a building by issuing a note $79,000. Using the indirect method, the net
increase (decrease) in cash for the year is: A) $(19,400). B) $(94,400). C) $32,900. D) $26,400.