Which concept below provides a means to identify, measure, and change culture?
a. Competing values framework
b. Values principals framework
c. Ethics structure
d. Challenging worth framework
a. Competing values framework
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Pettijohn Inc.The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
Balance Sheet (Millions of $) Assets2016 Cash and securities$ 1,554.0 Accounts receivable9,660.0 Inventories 13,440.0 Total current assets$24,654.0 Net plant and equipment 17,346.0 Total assets$42,000.0 Liabilities and Equity Accounts payable$ 7,980.0 Notes payable5,880.0 Accruals 4,620.0 Total current liabilities$18,480.0 Long-term bonds 10,920.0 Total liabilities$29,400.0 Common stock3,360.0 Retained earnings 9,240.0 Total common equity$12,600.0 Total liabilities and equity$42,000.0 Income Statement (Millions of $)2016 Net sales$58,800.0 Operating costs except depr'n$55,274.0 Depreciation$ 1,029.0 Earnings bef int and taxes (EBIT)$ 2,497.0 Less interest 1,050.0 Earnings before taxes (EBT)$ 1,447.0 Taxes$ 314.0 Net income$ 1,133.0 Other data: Shares outstanding (millions)175.00 Common dividends$ 509.83 Int rate on notes payable & L-T bonds6.25% Federal plus state income tax rate21.7% Year-end stock price$77.69 Refer to the data for Pettijohn Inc. What is the firm's P/E ratio? A. 12.0 B. 12.6 C. 13.2 D. 13.9 E. 14.6
An accommodation party on a negotiable instrument
a. typically receives a direct benefit from the instrument. b. is always primarily liable for the instrument c. is the same as a "guarantor" under the UCC. d. has the same liability to a holder as the person for whom he signed.
Carol is married to Andy. Carol buys food for their children's lunches and charges the cost to Andy's account. This is
a. an agency by operation of law. b. an agency by estoppel. c. an agency by ratification. d. not the creation of an agency relationship.
The discounted payback period takes the time value of money into account in that it uses
discounted free cash flows rather than actual undiscounted free cash flows in calculating the payback period. Indicate whether the statement is true or false