Money is automatically drawn from the buyer's account and deposited into the supplier's account in an electronic funds transfer (EFT)
Indicate whether the statement is true or false.
Answer: TRUE
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Which of the following is NOT a basis for involuntary dissolution?
A) By the Secretary of State, if it is established that the corporation failed to pay its franchise tax B) By a shareholder, if the directors are deadlocked and the shareholders cannot break the deadlock C) By the shareholders, if they dissent to a merger and are asserting their appraisal rights D) None of these
Tyler has been operating his business as a sole proprietorship but decides that it is too much work for him to do alone. He does not want to file a lot of government forms, but would like to bring in someone to own and operate it with him. Tyler needs a
A. partner. B. wife. C. merger. D. limited-liability company.
Transportation costs can be measured only in total dollars and never as a percentage of cost of goods sold or sales revenue
a. True b. False Indicate whether the statement is true or false
Inglewood Industries has net sales of $936,600 and average net receivables of $223,000 for the year. Which of the following statements is correct? (Round all calculations to one decimal place.)
A. The receivables turnover ratio is 4.2 and the days-to-collect is 86.9. B. The receivables turnover ratio is 0.2 and the days-to-collect is 87.6. C. The receivables turnover ratio is 4.2 and the days-to-collect is 0.01. D. The receivables turnover ratio is 0.2 and the days-to-collect is 1,520.