Even if a contract in which goods and services are mixed is primarily a goods contract, any dispute over the services portion will not be decided under the UCC
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
A disadvantage of advertising as a promotional form is its standardized message content
Indicate whether the statement is true or false
Which of the following are examples of transactional information?
A. Airline ticket, sales receipts, and packing slips. B. Airline tickets and sales growth spreadsheets. C. Trends and sales statistics. D. Product sales results, grocery receipts, and growth projections.
Kaloi Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$205,000 $190,000 Accounts receivable, net 192,000 200,000 Inventory 118,000 130,000 Prepaid expenses 41,000 40,000 Total current assets 556,000 560,000 Plant and equipment, net 813,000 770,000 Total assets$1,369,000 $1,330,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$115,000 $100,000 Accrued liabilities 27,000 30,000 Notes payable, short term 55,000 60,000 Total current liabilities 197,000 190,000 Bonds payable 130,000 130,000 Total liabilities 327,000 320,000 Stockholders' equity: Common stock, $2 par
value 100,000 100,000 Additional paid-in capital 60,000 60,000 Retained earnings 882,000 850,000 Total stockholders' equity 1,042,000 1,010,000 Total liabilities & stockholders' equity$1,369,000 $1,330,000 Income StatementFor the Year Ended December 31, Year 2Sales (all on account)$1,370,000 Cost of goods sold 830,000 Gross margin 540,000 Operating expenses 478,286 Net operating income 61,714 Interest expense 11,000 Net income before taxes 50,714 Income taxes (30%) 15,214 Net income$35,500 Dividends on common stock during Year 2 totaled $3,500. The market price of common stock at the end of Year 2 was $7.46 per share.Required:a. What is the company's working capital at the end of Year 2?b. What is the company's current ratio at the end of Year 2?c. What is the company's acid-test (quick) ratio at the end of Year 2?d. What is the company's accounts receivable turnover for Year 2?e. What is the company's average collection period for Year 2?f. What is the company's inventory turnover for Year 2?g. What is the company's average sale period for Year 2?h. What is the company's operating cycle for Year 2?i. What is the company's total asset turnover for Year 2?j. What is the company's times interest earned ratio for Year 2?k. What is the company's debt-to-equity ratio at the end of Year 2?l. What is the company's equity multiplier at the end of Year 2?m. What is the company's net profit margin percentage for Year 2?n. What is the company's gross margin percentage for Year 2?o. What is the company's return on total assets for Year 2?p. What is the company's return on equity for Year 2? What will be an ideal response?
Explain the CEO and CFO certification provision of the Sarbanes-Oxley Act (SOX) of 2002.
What will be an ideal response?