Rialto Company collected $5,000 on account. What impact will this transaction have on the firm's current ratio?
A. Increase it
B. Decrease it
C. No impact
D. Not enough information is provided to answer the question.
Answer: C
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The internal control provisions of SOX apply to which companies in the United States?
A. All nonissuer companies. B. SEC registrants. C. All issuer (public) companies and nonissuer (nonpublic) companies with more than $100,000,000 of net worth. D. All companies.
Round the number to the indicated place: 4,652 all the way
What will be an ideal response?
On a balance sheet for a merchandiser, Merchandise Inventory is listed as a(n) ________
A) current asset B) current liability C) expense D) revenue
Cycle Haven, Inc offers warranties on all their bikes
They estimate warranty expense at 3.5% of sales. At the beginning of 2017, the Estimated Warranty Payable account had a credit balance of $1,400. During the year, Cycle Haven had $299,000 in sales and had to pay out $5,900 in warranty payments. How much Warranty Expense will be reported on the 2017 income statement? A) $5,965 B) $7,300 C) $9,065 D) $10,465