Chattel or furniture is considered to be real property
Indicate whether the statement is true or false
FALSE
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Assume an organization has total current assets of $300,000; total current liabilities of $75,000; inventories of $150,000; prepaid expenses of $25,000; net sales of $800,000; and beginning accounts receivable of $100,000 and ending accounts receivable of $74,000 . What is the current ratio for this organization?
a. 17.9 b. 3.0 c. $225,000 d. 4.0
An S corporation must pay federal income tax at the corporate level
Indicate whether the statement is true or false
You are a buy-side analyst researching the Gorilla Glass Co. Gorilla plans to borrow $11 million by issuing bonds with an annual coupon of 7% and a yield to maturity of 7%
Gorilla will use the borrowed money to repurchase shares on the open market at $40 per share. You have gathered the information, shown in the table, regarding the company prior to the repurchase. You estimate that EBIT for Year 1 will be the same as reported for Year 0. Assume that the money is borrowed and the repurchase is executed at the beginning of Year 1. Gorilla Glass Co. Dec 31, Year 0 EBIT $10,331,538 Tax Rate 35% Shares Outstanding 3,000,000 EPS $2.5 Debt $0 Stock Price $40 What is the Year 1 EPS? A) $2.00 B) $2.28 C) $2.80 D) $3.25 E) $3.52
Trademarks are due absolute protection under federal law, even if not used in commerce, once they are registered
a. True b. False Indicate whether the statement is true or false