In the context of expenditures, the payments you have the most control over are called your nondiscretionary payments.
Answer the following statement true (T) or false (F)
False
Your expenditures can be classified into discretionary and nondiscretionary categories. The payments you have the most control over are called your discretionary payments. Nondiscretionary payments are those you have little control over, such as your monthly rent or car payment, which are set by contract. See A-1: Your Budget
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In preparing financial statements, accountants should consider all of the following except:
a. The objectives of financial reporting. b. The characteristics that make accounting information useful. c. The most useful way to display the information found on the financial statements. d. The presentation of the value of a company.
Westmoreland Company Following are selected data from Westmoreland Company's financial statements. 2017 2016 Current liabilities $230,000 $160,000 Long-term debt 120,000 320,000 Stockholders' equity 420,000 540,000 Cash payments for additions to plant and equipment 45,000 32,000 Net cash flow from operating activities 80,000 51,000 Interest and principal payments 12,000 8,000 Net operating cash
flows before interest and taxes 68,000 43,000 Net income 90,000 72,000 Interest expense 8,500 11,500 Income taxes 16,000 14,500 Dividends paid 15,000 30,000 Refer to the Westmoreland Company data. Westmoreland's debt-to-equity ratio for 2017 is: a. an indicator that Westmoreland Company's ability to meet current interest payments to creditors is increasing. b. increasing slightly from 2016 to 2017. c. an indicator that for every $1 of capital that stockholders provided, creditors provided $0.83. d. an indicator that Westmoreland Company has relied on stockholders for funds more in 2016 than in 2017.
What is formal communication in organizations? Describe the various types and provide an example of how each might be used in the workplace.
What will be an ideal response?
What are the conditions under which holographic wills are recognized as valid?
What will be an ideal response?