Interest expenses are not included as incremental free cash flows because the cost of funds is
recognized when cash flows are discounted back to present value.
Indicate whether the statement is true or false
TRUE
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In modern corporations-especially those in the United States and the United Kingdom-a primary objective of corporate governance is to ensure that the interests of top-level managers are aligned with the interests of shareholders.
Answer the following statement true (T) or false (F)
A company uses the aging of accounts receivable method to estimate its bad debts expense. On December 31 of the current year an aging analysis of accounts receivable revealed the following: Account AgeBalanceEstimated Uncollectible PercentageCurrent (not yet due)$620,0000.5%1-30 days past due270,0002.0%30-60 days past due145,0008.0%61-90 days past due55,00020.0%90-120 days past due32,00050.0%Over 120 days past due18,00070.0%Total$1,140,000?Required:a. Calculate the amount of the Allowance for Doubtful Accounts that should be reported on the current year-end balance sheet.b. Calculate the amount of the Bad Debts Expense that should be reported on the current year's income statement, assuming that the credit balance of the Allowance for Doubtful Accounts on January 1 of the current year
was $41,000 and that accounts receivable written off during the current year totaled $43,200.c. Prepare the adjusting entry to record bad debts expense on December 31 of the current year.d. Show how Accounts Receivable will appear on the current year-end balance sheet as of December 31. What will be an ideal response?
When an attorney is admitted to practice in his state's high court, this usually means that the attorney can:
A) practice in all lower courts in that state. B) practice in all appellate courts in the country. C) practice in all appellate courts in the federal system. D) practice in all trial courts throughout the country.
Which of the following is a correct statement regarding enforcement of the FCPA?
A) The SEC cannot investigate alleged FCPA violations. B) The SEC cannot bring civil charges under the FCPA's bribery provisions. C) The SEC refers criminal cases to the U.S. Justice Department for prosecution. D) The SEC tries FCPA criminal cases internally, pursuant to the prosecutorial mandate assigned the commission under the act.