A fixed cost within the relevant range
A) increases in total as output increases
B) decreases in total as output decreases
C) does not change in total as output changes
D) has both a variable and a fixed component
C
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A fact that does not excuse a crime but may be considered to lessen punishment is called a[n] ________ circumstance.
Fill in the blank(s) with the appropriate word(s).
The correct 2016 net income for Magness Company, after error corrections, was $56,000. Two errors were found after net income was first reported. The January 1, 2016 inventory and the December 31, 2016, inventory were overstated by $5,000 and $10,000, respectively. What is the amount of the net income that must have been originally reported?
A) $41,000 B) $66,000 C) $71,000 D) $61,000
Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business: Cash$52,000Short-term investments 12,000Accounts receivable 54,000Inventory 325,000Prepaid expenses 17,500Accounts payable 106,500Other current payables 25,000
A. 3.50 and 0.90 B. 2.73 and 1.52 C. 1.80 and 0.90 D. 1.80 and 1 E. 1.97 and 1.52
If the current account balance shows a surplus, and capital account receipts exceed capital account payments, then the net change in government international reserves must be ________, indicating a(n) ________ in U.S. international reserves
A) positive; increase B) negative; increase C) negative; decrease D) positive; decrease