When two investments have a negative correlation coefficient it means that they are bad investments
Indicate whether the statement is true or false
FALSE
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A company's business ________ describes an idealized picture of a future state a business is aiming to achieve
A) strategy B) objective C) purpose D) vision E) mission
The amount by which the overhead applied to jobs during a period exceeds the overhead incurred during the period is known as:
A. Estimated overhead. B. Predetermined overhead. C. Adjusted overhead. D. Underapplied overhead. E. Overapplied overhead.
Suppose the direct foreign exchange rates in U.S. dollars are:1 Singapore dollar = $0.70251 Cyprus pound = $2.5132Based on the information given above, the indirect exchange rates for the Singapore dollar and the Cyprus Pound (from a U.S. perspective) are:
A. 0.2975 Singapore dollars and 1.5132 Cyprus pounds respectively. B. 1.7655 Singapore dollars and 1.4235 Cyprus pounds respectively. C. 1.4235 Singapore dollars and 0.3979 Cyprus pounds respectively. D. 2.1622 Singapore dollars and 0.4625 Cyprus pounds respectively.
Dahn Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$227,000 $150,000 Accounts receivable, net 134,000 130,000 Inventory 150,000 130,000 Prepaid expenses 83,000 80,000 Total current assets 594,000 490,000 Plant & equipment, net 769,000 840,000 Total assets$ 1,363,000 $ 1,330,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$200,000 $180,000 Accrued liabilities 63,000 70,000 Notes payable, short term 71,000 60,000 Total current liabilities 334,000 310,000 Bonds payable 290,000 290,000 Total liabilities 624,000 600,000 Stockholders'
equity: Common stock, $5 par value 400,000 400,000 Additional paid-in capital 50,000 50,000 Retained earnings 289,000 280,000 Total stockholders' equity 739,000 730,000 Total liabilities & stockholders' equity$ 1,363,000 $ 1,330,000 Income StatementFor the Year Ended December 31, Year 2Sales (all on account)$1,370,000 Cost of goods sold 850,000 Gross margin 520,000 Operating expenses 482,692 Net operating income 37,308 Interest expense 21,000 Net income before taxes 16,308 Income taxes (35%) 5,708 Net income$ 10,600 Dividends on common stock during Year 2 totaled $1,600. The market price of common stock at the end of Year 2 was $2.37 per share.The company's inventory turnover for Year 2 is closest to: A. 6.54 B. 0.87 C. 5.67 D. 6.07