Which of the following would not be reported on the financial statements?
A) sales discount taken
B) trade receivables
C) trade discounts
D) sales discounts not taken
C
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Based on the following information from Scranton Company's balance sheet, calculate the current ratio. Current assets$114,000?Investments 55,400?Plant assets 340,000?Current liabilities 48,000?Long-term liabilities 99,000?Retained earnings 362,400?
A. 2.38. B. 1.15. C. 0.42. D. 3.47. E. 3.53.
Take the Feedback Orientation Survey in the appendix. Analyze your results. Which orientation does it indicate that you are? Are you surprised? Do you agree with the results? Why?
What will be an ideal response?
Which of the following statements is CORRECT?
A. The preemptive right gives stockholders the right to approve or disapprove of a merger between their company and some other company. B. The preemptive right is a provision in the corporate charter that gives common stockholders the right to purchase (on a pro rata basis) new issues of the firm's common stock. C. The free cash flow valuation model, Vops =FCF1/(WACC ? g), cannot be used for firms that have negative growth rates. D. The free cash flow valuation model, Vops = FCF1/(WACC ? g), can be used only for firms whose growth rates exceed their WACC. E. If a company has two classes of common stock, Class A and Class B, the stocks may pay different dividends, but under all state charters the two classes must have the same voting rights.
Excess income over and above the expected amount of after-tax operating income is called:
a. extraordinary profit. b. remaining profit. c. economic profit. d. monetary profit.