Digital magazine ad revenues were expected to ________ in 2015
A) remain stable
B) more than double
C) grow over 20%
D) continue to decrease
C
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A company expects a loss from uncollectible accounts equal to one-fourth of one percent of the sales on account during the year. If the sales on account amounted to $400,000, the estimated uncollectible accounts losses would be
a. $100; b. $400; c. $1,000; d. $4,000; e. $10,000
In determining cash flows from operations under the indirect method, the adjustments to convert net income to cash flow from operations generally involve _____ the amount by which an expense exceeds the related cash expenditure for the period (for depreciation, the entire amount)
a. subtracting b. multiplying c. adding d. dividing e. cannot be determined from the information provided
Which of the following are activities that give rise to strict liability?
a. Performing abnormally dangerous activities. b. Selling defective, unreasonably dangerous products. c. Keeping animals. d. All are correct.
Misty Mountain Outfitters is a merchandiser of specialized fly fishing gear. Its cost of goods sold for Year 2 was $295,000, and sales were $690,000. The amount of merchandise on hand was $50,000, and total assets amounted to $585,000. What is the average number of days to sell inventory? (Round to the nearest day.)
A. 31 days B. 40 days C. 26 days D. 62 days