A company with a current ratio of 2.4 times will see that ratio decrease when the company
A) pays a large current liability.
B) declares a 10 percent stock dividend on its common stock.
C) borrows cash by issuing a short-term note payable.
D) converts a short-term liability to a long-term liability.
C
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When a parent retires completely and turns the firm over to a son or daughter, the firm ceases to be a family business.
Answer the following statement true (T) or false (F)
The relevant range is useful for analyzing cost behavior for management decision-making purposes
Indicate whether the statement is true or false
Sanderlin Corporation has two manufacturing departments--Machining and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: MachiningFinishingTotalEstimated total machine-hours (MHs) 5,000 5,000 10,000Estimated total fixed manufacturing overhead cost$26,500$13,500$40,000Estimated variable manufacturing overhead cost per MH$2.00$3.00 During the most recent month, the company started and completed two jobs--Job C and Job L. There were no beginning inventories. Data concerning those two jobs follow: Job CJob LDirect materials$12,500$8,200Direct labor cost$20,200$6,400Machining machine-hours 3,400 1,600Finishing machine-hours 2,000 3,000Assume that the company uses departmental predetermined overhead rates
with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 20% on manufacturing cost to establish selling prices. The calculated selling price for Job C is closest to: A. $13,784 B. $82,704 C. $87,666 D. $68,920
When creating 3D digital art, the artist starts by defining a light source.
Answer the following statement true (T) or false (F)