A decline in the acid-test ratio indicates a reduced ability to pay current liabilities with funds from the sale of inventory
Indicate whether the statement is true or false
F
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________ states when a person is confronted with inconsistencies among attitude or behavior, he/she will take action to restore consistency
A) Theory of attitude B) Theory of consistency C) Theory of commitment D) Theory of cognitive dissonance
The net income of a company for the year just ended is $230,000 . Income tax is $80,500 and interest expense is $20,000 . The number of times interest was earned would be
a. 0.05. b. 10.5. c. 11.5. d. 16.5.
Marlow Company purchased a point of sale system on January 1 for $3,400. This system has a useful life of 10 years and a salvage value of $400. What would be the depreciation expense for the first year of its useful life using the double-declining-balance method?
A. $2,320. B. $300. C. $2,720. D. $600. E. $680.
Choose the answer that is not a distinguishing characteristic of financial accounting information.
A. It is more highly regulated than managerial accounting information. B. It is more concerned with financial data than physical or economic data. C. It is focused primarily on the future. D. It is global information that reflects the performance of the whole company.