Which of the following is normally considered an essential term of a contract?
A) The subject matter
B) The price
C) The terms of payment
D) Both A and B
E) All of the above
E
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Which of the following is listed as a possible indicator of a "bust-out"?
a. Transactions are frequently made on account but are normally made in cash b. The company decreases its credit purchases c. Records are missing, inaccurate, or damaged d. Credit references cannot be verified
The term share of customer is synonymous with share of market
Indicate whether the statement is true or false
Closing entries are designed to transfer the end-of-period balances in the revenue accounts, the expense accounts, and the dividends account to retained earnings.
Answer the following statement true (T) or false (F)
Duffert Industries has total assets of $1,050,000 and total current liabilities (consisting only of accounts payable and accruals) of $150,000. Duffert finances using only long-term debt and common equity. The interest rate on its debt is 9% and its tax rate is 40%. The firm's basic earning power ratio is 15% and its debt-to capital rate is 40%. What are Duffert's ROE and ROIC? Do not round your intermediate calculations.
A. 9.04%; 8.93% B. 11.26%; 9.14% C. 12.65%; 10.19% D. 13.90%; 10.50% E. 16.12%; 11.66%