Cost of merchandise sold is the amount that the merchandising company pays for the merchandise it intends to sell
Indicate whether the statement is true or false
False
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All of the following would be covered by an Environmental Impairment Liability (EIL) policy except:
A) chicken processor dumps pollution into a stream and ruins nearby drinking water B) chemical plant releases toxic gases and makes nearby residents sick C) gas station leaks gasoline from underground storage tanks D) chemical firm mislabels a chemical which causes injury to the user
NYK Logistics uses _____ technology to track containers through its distribution center in Long Beach, California. Each container has a special tag on it that allows hundreds of containers to be scanned simultaneously, improving the throughput of containers through the center.
A. containerization B. UV C. LED D. RFID E. barcode
Pettijohn Inc.The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
Balance Sheet (Millions of $) Assets2016 Cash and securities$ 1,554.0 Accounts receivable9,660.0 Inventories 13,440.0 Total current assets$24,654.0 Net plant and equipment 17,346.0 Total assets$42,000.0 Liabilities and Equity Accounts payable$ 7,980.0 Notes payable5,880.0 Accruals 4,620.0 Total current liabilities$18,480.0 Long-term bonds 10,920.0 Total liabilities$29,400.0 Common stock3,360.0 Retained earnings 9,240.0 Total common equity$12,600.0 Total liabilities and equity$42,000.0 Income Statement (Millions of $)2016 Net sales$58,800.0 Operating costs except depr'n$55,274.0 Depreciation$ 1,029.0 Earnings bef int and taxes (EBIT)$ 2,497.0 Less interest 1,050.0 Earnings before taxes (EBT)$ 1,447.0 Taxes$ 314.0 Net income$ 1,133.0 Other data: Shares outstanding (millions)175.00 Common dividends$ 509.83 Int rate on notes payable & L-T bonds6.25% Federal plus state income tax rate21.7% Year-end stock price$77.69 Refer to the data for Pettijohn Inc. What is the firm's quick ratio? A. 0.49 B. 0.61 C. 0.73 D. 0.87 E. 1.05
Which statement is TRUE about Securities Investor Protection Corporation (SIPC}?
@ SIPC protects broker-dealers from falling below minimum net capital requirements @ SIPC protects cash held in bank accounts from the failure of the deposit taking institution @ SIPC protects cash and securities held in brokerage accounts from the failure of the broker-dealer @ SIPC hedges customer accounts at brokerage firms against a loss due to falling market values