Café Espresso is a coffee shop subject to the laws of Illinois. In Illinois, the highest-ranking (superior) law is
A) a case decided by the Illinois Supreme Court.
B) a rule created by a Illinois state administrative agency.
C) ?a provision in the Illinois constitution.
D) a statute enacted by the Illinois legislature.
C
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On a bank reconciliation, interest earned for the month is added to the cash balance per the books
a. True b. False Indicate whether the statement is true or false
The implied warranty that food and drink served by restaurants, grocery stores, fast-food outlets, coffee shops, bars, vending machines, and other purveyors of food and drink be safe for human consumption is called the ________.
A. implied warranty of fitness for a particular purpose B. implied warranty of fitness for human consumption C. implied warranty of merchantability D. implied warranty of food and drug safety
If we are simply interested in determining whether the market as a whole, such as the S&P 500, is over- or undervalued, then the perpetual constant growth model is reasonable
Indicate whether the statement is true or false
VanMannen Foundations, Inc. (VF)VanMannen Foundations, Inc. (VF) is a zero-growth company that currently has zero debt, and it has the data shown below.
EBIT =$80,000 Growth =0% Orig cost of equity, rs =10.0% No. of shares =10,000 Price per share = $60.00Tax rate =25% ? Refer to the data for VanMannen Foundations, Inc. (VF). Now assume that VF is considering changing from its original zero debt capital structure to a new capital structure with even more debt. This results in changes in the cost of debt and equity, and thus to a new WACC and a new value of operations. Assume VF raises the amount of new debt indicated below and uses the funds to purchase and hold T-bills until it makes the stock repurchase. What is the stock price per share immediately after issuing the debt but prior to the repurchase? Debt/Value =40% Value of new debt =$280,702 Equity/Value =60% New WACC =8.55% A. $66.67 B. $70.18 C. $73.68 D. $77.37 E. $81.24