Westside Trailer Rental has 188 trailers available for rent. Last year, it had 160 available for rent. Compute the percent increase in the number of trailers available for rent
188 - 160 = 28; 28 160 = 0.175 = 17.5%
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The ____________________ is a way of estimating inventory in which a business's normal gross profit percentage is used to estimate the cost of goods sold and ending inventory
Fill in the blank(s) with correct word
Which of the following statements concerning direct financing leases is true?
A) The net investment in the lease should be adjusted each year by material increases (but not decreases) in estimated unguaranteed residual values. B) The lessor reports only interest revenue on the income statement. C) Initial direct costs result in an increase in Unearned Interest Revenue-Leases by an amount equal to these costs in the year the costs are incurred. D) The lessor's gross margin is amortized over the life of the lease.
Which of the following statements is true of a restrictive indorsement?
A. It includes indorsements for collection, which are commonly put on by banks involved in the collection process, and indorsements for deposit. B. A person who purchases a check indorsed "for collection" automatically converts it even if the indorser received the amount paid for it. C. If an indorser merely signs his name and does not specify to whom the instrument is payable, he has indorsed the instrument in restriction. D. A person who takes an instrument with a restrictive indorsement should not pay for the instrument consistently with the indorsement.
A broad statement that defines the purpose for a company's existence is the mission statement.
Answer the following statement true (T) or false (F)