Eagle Company has $12,000 in cash, $4,000 in marketable securities, $23,000 in current receivables, $22,000 in inventories, and $32,000 in current liabilities. The company's quick ratio is closest to:
A) 1.09 to 1
B) 1.22 to 1
C) .72 to 1
D) 2.65 to 1
B
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Nineteenth-century economist William Stanley Jevon provided an explanation for
A) the act of exchange. B) public relations tactics. C) how physics works. D) organizational complexity. E) the value of advertising.
Kyle, an accountant, convinces his client Lucille to sign a contract to invest her savings in 2Gether, a nonexistent social-networking Web site. There is clear and convincing evidence that Lucille did not act out of her free will. This is A) duress
B) fraud. C) unconscionability. D) undue influence.
The internal rate of return for the project is ________. (See Table 11.5)
A) between 7 and 8 percent B) between 9 and 10 percent C) greater than 12 percent D) between 10 and 11 percent
Sigmo Company, which uses a standard cost system, budgeted $800,000 of fixed overhead when 50,000 machine hours were anticipated. Other data for the period were:Actual units produced: 10,600Actual machine hours worked: 51,800Actual variable overhead incurred: $475,000Actual fixed overhead incurred: $790,100Standard variable overhead rate per machine hour: $8.50Standard production time per unit: 5 hoursSigmo's variable-overhead efficiency variance is:
A. $10,200F. B. $15,300U. C. $15,300F. D. $10,200U. E. None of the answers is correct.