Explain the difference between cash and cash equivalents.
What will be an ideal response?
Cash includes currency, coins, deposits in bank accounts, checking accounts, and savings accounts.. Cash equivalents are short-term investments that meet the two specific criteria of being readily convertible to a known cash amount and being sufficiently close to maturity so that the market value is not sensitive to changes in interest rates. Examples of short-term investments include certificates of deposits and government treasury bills.
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Underapplied overhead occurs when the balance in the Manufacturing Overhead Control account is:
A. less than the balance in the Applied Manufacturing Overhead account. B. equal to the balance in the Applied Manufacturing Overhead account. C. less than the balance in the Finished Goods Inventory account. D. greater than the balance in the Applied Manufacturing Overhead account.
In the Carmody v. Toll Bros., Inc case discussed in the text, the Delaware Court of Chancery analyzed the question of the legality of a dead-hand pill under Delaware law. In striking down the dead-hand pill, the court ruled that:
a. the directors appropriately used the dead-hand pill which guaranteed that majority shareholders in place before a hostile bidding attempt were entitled to vote to block any later proposed vote on a merger. b. the directors appropriately used the dead-hand pill because directors are entitled to use any means necessary in order to block a hostile takeover. c. the dead-hand pill violated the state general corporation law for a number of reasons including that it violated the directors' duty of loyalty. d. the dead-hand pill, which could only be redeemed by directors in office after a hostile bidder gained control or by their designated successors, violated the state general corporation law because it prejudiced directors in place prior to the takeover.
A merchant is a person who deals in goods of the kind involved in the sales contract or who holds herself or himself out as having skill or knowledge peculiar to the practices or goods being purchased or sold
Indicate whether the statement is true or false
In ____________________ analysis, each item of the current period is compared in dollars and percent with the corresponding item from a previous period
Fill in the blank(s) with correct word