One reason that a common-sized statement is a useful tool in financial analysis is that it enables the user to
a. judge the relative potential of two companies of similar size in different industries
b. determine which companies in a single industry are of the same value
c. determine which companies in a single industry are of the same size
d. make a better comparison of two companies of different sizes in the same industry
d
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In larger organizations that have stock ownership plans, the employees may not see a strong link between their actions and the company's stock price.
Answer the following statement true (T) or false (F)
Candy's Video includes the amount of sales taxes collected directly in the price charged for merchandise, and the total amount is credited to Sales. During January, Sales was credited for $310,117.50. The January 31 adjusting entry to account for a 5% state sales tax should be
A) Sales 14,767.50Sales Taxes Payable 14,767.50 B) Sales Tax Expense 14,767.50Sales Taxes Payable 14,767.50 C) Sales 15,505.88Sales Taxes Payable 15,505.88 D) Sales Tax Expense 15,505.88Sales Taxes Payable 15,505.88
Phillip said to a close friend, "I am fed up with my company's continual disregard for the environment. They secretly dispose of hazardous chemicals into a nearby stream constantly. I don't know how they get away with it! I am going to call a reporter at the and reveal what my company is doing." Phillip's decision to tell somebody about his company's actions is an example of
A. operating at a preconventional level. B. violating a code of ethics. C. backstabbing his manager. D. being guided by the invisible hand. E. whistle-blowing.
In which journal is the return of supplies purchased on account recorded?
A) General journal B) Cash Receipts journal C) Cash Payments journal D) Purchases journal