An organization that is ______ possesses sufficient cash to meet its obligations as they come due.
A. liquid
B. solvent
C. restricted
D. unrestricted
A. liquid
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As inventory draws down, management must know at what stock level to place a new order. This
stock level is called the order point. Indicate whether the statement is true or false
Underapplied overhead resulting from unanticipated and immaterial price increases for overhead items should be written off by
a. decreasing Cost of Goods Sold. b. increasing Cost of Goods Sold. c. decreasing Cost of Goods Sold, Work in Process Inventory, and Finished Goods Inventory. d. increasing Cost of Goods Sold, Work in Process Inventory, and Finished Goods Inventory.
Decker EnterprisesBelow are the simplified current and projected financial statements for Decker Enterprises. All of Decker's assets are operating assets. All of Decker's current liabilities are operating liabilities. Income statementCurrent
Projected Salesna 1,500 Costsna 1,080 Profit before taxna 420 Taxes (25%)na 105 Net incomena 315 Dividendsna 95 Balance sheetsCurrentProjected CurrentProjectedCurrent assets 100 115 Current liabilities 70 81 Net fixed assets 1,200 1,440 Long-term debt 300 360 Common stock 500 500 Retained earnings 430 650 Based on the projections, Decker will have A. a financing surplus of $36 B. a financing deficit of $36 C. a financing surplus of $255 D. a financing deficit of $255 E. zero financing surplus or deficit
A counteroffer
a. has no legal effect. b. is a valid acceptance. c. does not reverse the relationship of the parties. d. is a rejection of the original offer.