A good mission statement should
A. be company oriented.
B. contain as many goals as possible.
C. focus on when to market the product.
D. ask the question "What is our product?"
E. provide motivation for the employees of the firm.
Answer: E
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A company purchases for $48,000 an asset that has a useful life of six years and no salvage value. After two years, the company spends $8,000 for a major overhaul that will extend the machine's useful life four years beyond the original six. Assuming straight-line depreciation, how much depreciation should be taken in year 3?
A) $4,000 B) $5,000 C) $5,600 D) $8,000
Tressor Company is considering a 5-year project. The company plans to invest $90,000 now and it forecasts cash flows for each year of $27,000. The company requires that investments yield a discount rate of at least 14%. Selected factors for a present value of an annuity of $1 for five years are shown below:Interest ratePresent value of an annuityof $1 factor for year 510%3.790812%3.604814%3.4331 Calculate the internal rate of return to determine whether it should accept this project.
A. The project should be accepted because it will earn more than 14%. B. The project should be accepted because it will earn more than 10%. C. The project will earn more than 12% but less than 14%. At a hurdle rate of 14%, the project should be rejected. D. The project should be rejected because it will not earn exactly 14%. E. The project should be rejected because it will earn less than 14%.
Briefly explain the difference between a USE of cash and a SOURCE of cash. Give examples of each. Briefly explain why managers want to know the uses and sources of cash
What will be an ideal response?
A process costing system is used when:
A. A company produces unique, one-of-a-kind inventory items. B. Batches of identical inventory items are produced. C. Homogeneous items are produced in a continuous-flow production process. D. All of these answers are correct.