An annual reporting period consisting of any twelve consecutive months is known as:
A. Fiscal year.
B. Natural business year.
C. Interim financial period.
D. Seasonal year.
E. Calendar year.
Answer: A
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A. channel confusion. B. channel changing. C. channel conflict. D. channel surfing. E. channel competition.
Which of the following statements or schedules is most likely to be prepared by a government as an interim financial report?
A. A governmental funds balance sheet. B. A schedule of budgeted and actual expenditures. C. A schedule of cash flows for governmental funds. D. A government-wide statement of activities.
What is an IRA that allows for contributions to be invested pre-tax and the growth remains tax-free until withdrawal, at which time funds are taxed at your current marginal income tax rate?
A) Roth IRA B) Traditional IRA C) 401(k) D) 401b E) Investment Portfolio
An all-equity financed firm has $450 in assets and the stock price is $45. If the firm restructures with 20 percent debt which creates interest expense of $10 per year and the firm's tax rate is 21 percent, what is the break-even EBIT?
A. $45 B. $50 C. $30 D. $35