Capital rationing is a constraint placed on the amount of funds that can be invested in a given
time period.
Indicate whether the statement is true or false
TRUE
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A company has 30,000 shares of common stock outstanding. The stockholders' equity applicable to common shares is $382,500, and the par value per common share is $10. The book value per share is:
A. $0.08. B. $12.75. C. $2.75. D. $38.25. E. $10.00.
Dana Klammer is the manager of the Cutting Department in the Northwest Division of Steel Products. Which of the following costs is Dana's controllable cost?
A) Salaries of cutting workers B) Cost of electricity for the Northwest Division C) Lumber Department hauling costs D) Vice president's salary
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Indicate whether the statement is true or false
Cook instructs Chan, her agent, to buy a van for her business. Chan contracts for a van with a third party, who knows that Chan is an agent. If Cook does not like the van and refuses to pay for it, the seller may sue:
a. Chan because she did not have authority to enter into a final contract without permission b. Cook because Chan has actual authority to make a contract on behalf of her principal c. Cook if Chan signed the contract expressly on behalf of Cook; that is, the principal was revealed before the contract was made d. Cook but only if Chan has apparent authority to enter into the contract e. no one; there was no valid contract