If the balance of prepaid insurance was the same on January 1, 2019, and December 31, 2019, then the insurance expense must have been ____________________ the cash payments made for insurance during the year.
Fill in the blank(s) with the appropriate word(s).
equal to
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According to the Boston Consulting Group (BCG) matrix, when the market growth of a product is low but the relative market share is high, it is known as a:
A) cash cow. B) dog. C) star. D) problem child.
The difference between the balance of a fixed asset account and the related accumulated depreciation account is termed
A) historical cost B) contra asset C) book value D) market value
A contingency plan describes alternative courses of action to be implemented if specific
conditions called "triggers" occur. Indicate whether the statement is true or false
The difference between liquidation and reorganization is that a:
A) reorganization terminates all operations of the firm while a liquidation only terminates non-profitable operations. B) liquidation terminates all operations immediately while a reorganization terminates operations over two, or more, years. C) liquidation terminates all operations and a reorganization maintains the option of the firm as a going concern. D) liquidation deals with net working capital while a reorganization deals with long-term liabilities. E) a liquidation must occur outside of bankruptcy while a reorganization involves the bankruptcy process.