Equivalent units are defined as the number of units completed and sold during the current period
Indicate whether the statement is true or false
False
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A global segment is referred to as "global teens" which includes:
A) people between the ages of 12 and 19. B) affluent, well-traveled persons. C) young, global travelers. D) technology professionals. E) persons having power.
The base, or benchmark, on which all items on the income statement are compared is net sales
a. True b. False Indicate whether the statement is true or false
Ted Catering received $800 cash in advance from a customer for catering services to be provided in three months. Determine the general journal entry that Ted Catering will make to record the cash receipt. Assume the company's policy is to initially record prepaid and unearned items in balance sheet accounts.
A.
| Unearned Catering Revenue | 800 | |
| Catering Revenue | 800 |
B.
| Cash | 800 | |
| Unearned Catering Revenue | 800 |
C.
| Cash | 800 | |
| Accounts Receivable | 800 |
D.
| Accounts Receivable | 800 | |
| Catering Revenue | 800 |
E.
| Cash | 800 | |
| Catering Revenue | 800 |
A company had a market price of $39.20 per share, earnings per share of $2.10, and dividends per share of $1.25. Its price-earnings ratio equals:
A. 24.7. B. 20.7. C. 16.6. D. 21.9. E. 18.7.