The Tom Smith Corporation has the following items
Cash, $5,000; Machinery, $50,000; Building,
$150,000; Note payable bank, $10,000; Savings, $10,000; Long-term debt, $50,000; Accounts
payable, $30,000; Taxes payable, $5,000; Accounts receivable, $30,000; Inventory, $10,000;
Depreciation Building, $35,000; Depreciation Machinery, $25,000; Land $50,000. Total liabilities
for this Corporation are
A) $45,000.
B) $55,000.
C) $95,000.
D) $155,000.
E) $190,000.
C
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If a U.S. company purchases goods from a British supplier for a fixed number of U.S. dollars, an exchange gain or loss would not arise for the U.S. company, even if the exchange rate has changed between the time of purchase and the time of payment
Indicate whether the statement is true or false
A group of consumers who help in collecting problem-specific data by providing information on a continuing basis is called a
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The term "seasonal variation" may refer to:
a. systematic patterns that occur during the period of one week b. systematic patterns that occur over the course of one day c. the four traditional seasons d. All of these choices are true
David Tang operates an automotive wrecking yard and he needs a 4-ton chain hoist to move heavy car and truck parts. Tang can buy a used hoist for $3,840 from a dealer who paid $1,600 for it. Compute the markup percent based on cost