Which of the following is true regarding the relationship of the current ratio to the quick ratio?
a. The current ratio is based on a more conservative measure of liquidity.
b. Both focus on the relationship between part or all of the firm's current assets and all of its current liabilities.
c. Both focus on the relationship between all of the firm's current assets and part or all of its current liabilities.
d. For a company in the service industry, the current ratio and quick ratio will be significantly different.
b
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Research on honesty shows that individuals fall into three groups: (1) those who will almost always be honest, (2) those who are situationally honest, and (3) those who will always be dishonest. Which of these groups is (are) the biggest?
a. Group 1 (50%) b. Group 2 (40%) c. Group 3 (45%) d. Groups 1 and 3 (35% each)
An internal reconciliation account is not required for internal transfers based on
a. market value. b. dual prices. c. negotiated prices. d. cost.
Prepare journal entries to record the following merchandising transactions of Margin Company, which applies the perpetual inventory system and the gross method of recording invoices. Margin Company offers all of its credit customers credit terms of 2/10, n/30. May 1Purchased merchandise from Craft Company for $7,800 under credit terms of 1/10, n/30, FOB shipping point, invoice dated May 1.May 2 Purchased merchandise from Bow Company for $10,600 under credit terms 2/05, n/20, FOB destination.May 4 Paid $300 cash for the freight charges on the May 1 purchase of merchandise.May 5 Granted an $800 allowance from Craft Company for the return of part of the merchandise purchased on May 1.May 6 Paid Bow Company the balance due within the discount period.May 11 Paid Craft Company the balance
due within the discount period. What will be an ideal response?
E-learning provide all the following benefits EXCEPT
A. bringing the training to employees. B. replacing conventional learning experiences. C. facilitating just-in-time skill development. D. being more cost effective.