An older term for long-term assets is fixed assets
Indicate whether the statement is true or false
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The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency. After closing entries are posted, what will be the balance in the Retained earnings account? Total revenues$115,000?Total expenses 55,200?Retained earnings 73,600?Dividends 13,800?
A. $73,600. B. $59,800. C. $55,200. D. $119,600. E. $133,400.
The fixed-period inventory system requires more safety stock than a fixed-quantity system because:
A) a stockout can occur during the review period as well as during the lead time. B) this model is used for products that have large standard deviations of demand. C) this model is used for products that require very high service levels. D) replenishment is not instantaneous. E) setup costs and holding costs are large.
Which one of the following statements about break-even analysis for evaluating products or services is TRUE?
A) The break-even quantity will tend to increase as the variable cost per unit of production decreases. B) As sales increase beyond the break-even quantity, total before-tax profits tend to decrease. C) A restaurant's opening of downsized facilities with only drive-through service is an example of lowering fixed costs and the break-even quantity. D) Increasing the unit selling price has the effect of increasing the break-even quantity.
The problem with the constant dividend payout ratio is
A) management cannot decrease the dividend when times are tough. B) management is reluctant to cut the dividend even if there are low profits that year. C) the dollar amount of the dividend fluctuates from year to year. D) investors may come to expect a specified amount.