Which of the following is not an indicator of a potential going-concern problem?
a. Negative trends in profitability.
b. External matters increasing regulatory requirements.
c. Significant changes in competition.
d. An Altman Z-score above 3.0.
d
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Jill Scott is an accountant with Cameron and Associates, a law firm in downtown Seattle. The firm maintains a checking account with Southern Rock Bank for its operating expenses
On the 10th of every month, Jill gets an inventory report from the office manager listing the office supplies that are needed. Jill places the appropriate orders with Office Depot and writes them a check against the office's checking account. Who is the drawee in this banking transaction? A) Jill Scott B) Office Depot C) Cameron and Associates D) Southern Rock Bank
If a shareholder does not exercise his or her preemptive rights within the stated time, shares can then be sold to anyone
Indicate whether the statement is true or false
The following data relate to product no. 89 of Mansion Corporation:Direct material standard: 3 square feet at $2.50 per square footDirect material purchased: 30,000 square feet at $2.60 per square footDirect material consumed: 29,200 square feetManufacturing activity: 9,600 units completedAssume that the company computes variances at the earliest point in time.The direct-material quantity variance is:
A. $2,000F. B. $1,040F. C. $1,000U. D. $1,000F. E. $1,040U.
Why are structural records used?
What will be an ideal response?