Briefly summarize the importance of the Baldrige Quality Award.
What will be an ideal response?
A successful answer will note that the Baldrige Award is the premier award for quality management in the United States and that it is presented by the U.S. Commerce Department in six categories each year. Many companies strive to be considered for the Baldrige Award.
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Identify the subject in the sentence. Other options include term life insurance and group variable universal life
Which of the following is a feature of condominium ownership?
A) The owner of each unit in the development also owns a share of the common elements B) The right to possession of each unit in the development is shared between the owner and the condominium corporation C) All owners are equally liable for any debts incurred by another owner with respect to the property D) The condominium corporation must give consent for a unit to be rented E) All of the above
Kearin Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$33,000 $100,000 Accounts receivable, net 281,000 250,000 Inventory 122,000 130,000 Prepaid expenses 68,000 80,000 Total current assets 504,000 560,000 Plant and equipment, net 1,016,000 980,000 Total assets$ 1,520,000 $ 1,540,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$80,000 $100,000 Accrued liabilities 31,000 30,000 Notes payable, short term 56,000 70,000 Total current liabilities 167,000 200,000 Bonds payable 260,000 260,000 Total liabilities 427,000 460,000 Stockholders'
equity: Common stock, $5 par value 500,000 500,000 Additional paid-in capital 70,000 70,000 Retained earnings 523,000 510,000 Total stockholders' equity 1,093,000 1,080,000 Total liabilities & stockholders' equity$ 1,520,000 $ 1,540,000 Income StatementFor the Year Ended December 31, Year 2Sales (all on account)$1,300,000 Cost of goods sold 800,000 Gross margin 500,000 Operating expenses 448,692 Net operating income 51,308 Interest expense 19,000 Net income before taxes 32,308 Income taxes (35%) 11,308 Net income$ 21,000 Dividends on common stock during Year 2 totaled $8,000. The market price of common stock at the end of Year 2 was $2.02 per share.The company's net profit margin percentage for Year 2 is closest to: A. 3.9% B. 1.6% C. 38.5% D. 2.5%
Least-squares regression is a statistical method for identifying cost behavior.
Answer the following statement true (T) or false (F)