The term deficit is used to refer to a debit balance in which of the following accounts of a corporation?
a. Retained Earnings
b. Treasury Stock
c. Organizational Expenses
d. Common Stock
a
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The following information is provided for Southall Company: Sales revenue$125,000 Variable manufacturing costs 42,500 Fixed manufacturing costs 37,500 Variable selling and administrative costs 15,000 Fixed selling and administrative costs 12,500 What is this company's contribution margin?
A. $45,000 B. $67,500 C. $17,500 D. $30,000
Which type of communication provides proof that information was exchanged?
A. Written communication B. Nonverbal communication C. Oral communication D. Kinesthetic communication
As of December 31, Year 1, Gant Corporation had a current ratio of 1.29, quick ratio of 1.05, and working capital of $18,000. The company uses a perpetual inventory system and sells merchandise for more than it cost. On January 1, Year 2, Gant issued common stock at par value for $10,000 cash. Which of the following statements is true?
A. Gant's current ratio will decrease. B. Gant's current ratio will increase. C. Gant's working capital will decrease. D. Gant's quick ratio will decrease.
An assignment must always be in writing
Indicate whether the statement is true or false