In September of 2013, Mitford Products Inc began doing business as a corporation. The company plans to start making its first purchases in October of 2013. They have the following purchases budgeted for the last quarter of 2013: October $850,000 November 600,000 December 720,000 Mitford has worked out agreements with its various suppliers to pay for one-third of a month's purchases each month,
beginning in the month of purchase, until the purchases are paid in full. No purchases were made prior to October. What are expected total cash disbursements for the last quarter of 2013?
A) $1,490,000
B) $ 723,333
C) $1,006,667
D) $1,446,667
A
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________ is gaining a reputation as a manufacturing center as well as the world's number one producer of flat-screen TV sets
A) Mexico B) Canada C) Brazil D) Panama E) Argentina
Top-Shelf Construction discovered that for every 1 percent decrease in its sales, its earnings before interest and taxes (EBIT) decrease by 3.2 percent. Based on this information, we know that Top-Shelf Construction has a:
A. debt/assets ratio equal to 3.2 times its debt/equity ratio. B. degree of operating leverage (DOL) equal to 3.2. C. current ratio (= Current assets/Current liabilities) equal to 3.2. D. degree of total leverage equal to 3.2. E. degree of financial leverage (DFL) equal to 3.2.
The Miller family, who operates a musical instrument manufacturing concern, has decided to incorporate. The three (3 ) members of the Miller family, Mary, Mark and Sue, would like to become a corporation and obtain limited liability; however, taxation
at the corporate level would be very costly for them. If possible, Mary Miller would rather be taxed as a partnership. Mark Miller is worried about the additional paperwork and meetings that incorporation would surely bring. Sue Miller does not want a large board of directors to be formed. Sue fears that the board would somehow detract from the family goals and orientation the business has always enjoyed. In light of these concerns, is there a corporate form that would better suit the Miller family?
At its founding, only skilled craft workers such as ________ were allowed to belong to the American Federation of Labor.
A. automobile assembly plant workers B. silversmiths and artisans C. accountants and lawyers D. fire fighters and teachers