Answer the following statements true (T) or false (F)
True market demand for public goods may be determined by the number of consumers who pay for the goods.
ANSWER: F
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Which combination of ratios will best analyze Stetson's income statement performance?
a. Earnings per share, gross profit, and profit margin ratio b. Gross profit ratio, return on common stockholders' equity ratio, debt-to-equity ratio c. Debt-to-equity ratio, gross profit ratio, and profit margin ratio d. Current ratio, gross profit ratio, and return on common stockholders' equity ratio
In a merchandising firm, authorization for the purchase of inventory is the responsibility of
a. inventory control b. purchasing c. accounts payable d. cash disbursements
An additional partner review of the audit and its findings is typically performed by an experienced member of the firm. Which of the following individuals is most qualified to perform this concurring partner review?
a. The engagement partner who has worked on the client for three years. b. An employee of the enforcement division of the SEC. c. An experienced partner of the firm who did not actively participate on the audit. d. A partner of another firm or office who knows the client well and who was a vital member of the audit team.
Polk, Inc produces 3,00 . hammers each day. The average number of units in work in process is 4,500 . having an average cost of $10,000 . The annual carrying costs relating to inventory are 15%. Consultants have determined that the work in process could be reduced by as much as a third by rearranging the factory floor. What is the current throughput time?
a. Eight hours b. Sixteen hours c. One day d. One and one half days