At the end of the current year, Leer Company reported total liabilities of $300,000 and total equity of $100,000. The company's debt ratio on the last year-end was:
A. $400,000.
B. 300%.
C. 33.3%.
D. 66.67%.
E. 75.0%.
Answer: E
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The Step Company has the following information for the year just ended: Budget ActualSales in units 15,000 14,000 Sales$150,000 $147,000 Less: Variable Expenses 90,000 82,600 Contribution Margin$60,000 $64,400 Less: Fixed Expenses 35,000 40,000 Operating Income$25,000 $24,400 The Step Company's sales-volume variance is:
A. $4,400 favorable. B. $10,000 unfavorable. C. $4,000 unfavorable. D. $3,000 unfavorable. E. $10,000 favorable.
Tolkien Corporation, incorporated in Delaware, opens a warehouse in a western state from which it ships goods. If Tolkien does not have a certificate of authority to do business within the western state:
A) it will face no sanctions or penalties. B) the corporation will be shut down. C) the corporation's officers and directors may be held personally liable on contracts made within the state. D) Any of these may happen.
Congress passed the Communications Decency Act to restrict child pornography on the Internet. When it reviewed the constitutionality of the statute, the Supreme Court held the law to be:
a. an unconstitutional restriction on speech b. a constitutional restriction on speech because it affected minors c. a constitutional restriction on speech because it affected an area subject to regulation d. a constitutional restriction on speech because it was narrowly tailored to achieve a compelling governmental interest e. none of the other choices
Which of the following is NOT a design class?
A) standard B) control C) boundary D) utility