Which mode of transportation has had the greatest impact on the location of major cities?
a. Motor
b. Water
c. Rail
d. Pipeline
B
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Which of the following statements about an offer is true?
A. The death of an offeror will terminate the offer. B. An offer is effective upon dispatch. C. A grumbling acceptance is a rejection and terminates the offer. D. Any definite offer made by a merchant is called a "firm offer."
Carlton, Inc presented the following information in a note to its financial statements for the year ending December 31, 2016: The company has a loan agreement with Beachside Bank that states: 1 . The current ratio should remain at least 2.0 to 1 at all times. 2 . The debt-to-equity ratio should not exceed .7 to 1 at any time. 3 . The times-interest-earned should be 5.0 or better. 4 . The
inventory-turnover should be 4.0 or better. The ratios at year-end are: current ratio, 2.3 to 1; debt-to-equity ratio, .6 to 1; times-interest-earned, 7.1; and inventory-turnover, 3.7 . Which of the following statements is true? a. Carlton was in default because of the inventory turnover. b. Carlton was in default because of the current ratio. c. Carlton was in default because of the debt-to-equity ratio. d. Carlton was in default because of the times-interest-earned.
The FASB has set a hierarchy of inputs to consider in assessing fair value. Which of the following valuations are generally viewed as the most subjective?
a. Level 0. b. Level 1. c. Level 2. d. Level 3.
The percentage of net sales method of estimating uncollectible accounts is in violation of the matching principle
Indicate whether the statement is true or false