During the year Comer, Inc., had $200,000 in goods available for sale. At the end of the accounting period it had an ending inventory of $40,000. This reveals that it had sold all but ____ worth of the available goods.
A. $200,000
B. $160,000
C. $40,000
D. $20,000
E. $10,000
Answer: C
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Refer to Data Table A. The value for A2 is ______.
a. 2.059
b. 0
c. 0.729
d. 0.308
Macoun Co.'s most recent EPS were $3.25 and they are expected to grow at a rate of 5% for the near future. The stock currently sells for $48.75. What is the price to forecasted earnings ratio?
A) 15.00 B) 14.30 C) 15.75 D) .07
If the likelihood of an obligation is remote:
A) no action is necessary in the accounting treatment. B) the disclosure with explanation is put into the financial statement footnotes. C) the obligation with the estimated dollars is recorded on the Balance Sheet. D) the obligation with the estimated dollars is recorded and put into the footnotes.
The hosting of a website for the purpose of online retailing would be classified as a(n)_________.
A. cost of goods sold B. operating expense C. promotional allowance D. profit center E. asset productivity center