All other things the same, when a company increases its inventories in anticipation of later higher sales, the accounts receivable turnover ratio for the current period increases.
Answer the following statement true (T) or false (F)
False
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Earnings retained in a corporation are recorded by closing the income summary account to the ____________________ account at the end of the period
Fill in the blank(s) with correct word
When preparing the statement of cash flows using the indirect method, the sale of marketable securities would appear as
a. a use of cash in the investing activities section b. a source of cash in the investing activities section c. a use of cash in the financing activities section d. a source of cash in the financing activities section
Courts of general jurisdiction are appellate courts with authority to hear all appeals from lower, more specialized, courts
a. True b. False Indicate whether the statement is true or false
How is the net income percentage calculated?
A. Total stockholders' equity divided by net sales B. Net Sales divided by net Income C. Net Income divided by Gross Margin D. Net Income divided by net Sales