The Weichert Co Realtors v. Ryan case dealt with the issue of quantum meruit
Indicate whether the statement is true or false
true
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Business ____________________ is the systematic process of collecting, interpreting, and presenting numerical data about business situations.
Fill in the blank(s) with the appropriate word(s).
Garcia Manufacturing has two processes—Coloring and Mixing. The company assigned $390,000 to the 6000 gallons of paint transferred from Mixing Department to Finished Goods Inventory. The journal entry to record this assignment of cost is ________.
A) debit Work-in-Process Inventory—Mixing, $390,000; credit Finished Goods Inventory, $390,000 B) debit Finished Goods Inventory, $390,000; credit Cost of Goods Sold, $390,000 C) debit Cost of Goods Sold, $390,000; credit Finished Goods Inventory, $390,000 D) debit Finished Goods Inventory, $390,000; credit Work-in-Process Inventory—Mixing, $390,000
Answer the following statements true (T) or false (F)
On the statement of cash flows, the proceeds from the sale of equipment would be classified as a financing activity.
Which of the following measures can be used to evaluate a company's ability to meet future debt obligations after paying operating expenses, dividends and making capital expenditures?
A) Earnings per share B) Net income C) Cash flow adequacy ratio D) Net increase or decrease in cash and cash equivalents