Long-term liabilities are a component of the "capital structure" of a company
a. True
b. False
Indicate whether the statement is true or false
True
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Langley Company received merchandise on December 31, 2016. Langley failed to record the purchase on account because the invoice was inadvertently destroyed. The merchandise was, however, included in ending inventory. What would be the effect of this event on the financial statements as of December 31, 2016?
A) assets and liabilities would be understated B) assets and owners' equity would be overstated C) liabilities would be understated and retained earnings overstated D) liabilities would be overstated and retained earnings understated
________ is the assignment of numbers or other symbols to characteristics of objects according to certain pre-specified rules
A) Ranking B) Measurement C) Scaling D) Rating
As part of an organization’s annual appraisal process, managers can include a(n) “______ rating” for each member of the organization.
A. profitability B. closed C. promotability D. open
Robert started his company in his parents' garage because he could not afford to rent an office space. Most of his finances were spent on procuring the essential items to set up his company. As a result, he was able to save funds for the future. The opportunity of _____ is highlighted in the given scenario.
A. exploiting market niches B. using technology C. having lower overhead costs D. providing personal customer service