If you presently have $6,000 invested at a rate of 15%, how many years will it take for you investment to triple? (Round up to obtain a whole number of years if necessary.)
A) 2
B) 4
C) 6
D) 8
E) 10
D
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Under the allowance method, when a year-end adjustment is made for estimated uncollectible accounts,
a. total assets decrease. b. liabilities increase. c. total assets are unchanged. d. net income is unchanged.
Which of the following descriptions would not fit the definition of a liability?
a. Obligation to deliver services already paid for b. Result of past transaction c. Future obligation for future salary payments d. Present obligation for future payment
Percentage analyses, ratios, turnovers, and other measures of financial position and operating results are:
A) a substitute for sound judgment. B) useful analytical measures. C) enough information for analysis, industry information is not needed. D) unnecessary for analysis, but reaction is better.
A location decision for a traditional department store (e.g., Macy's) would tend to have what type of focus?
A) cost focus B) labor focus C) revenue focus D) environmental focus E) education focus