By contract, Quality Metals Corporation forbids Resource Refining, Inc., a wholesale buyer of Quality's products, from purchasing the products of Quality's competitors. This exclusive-dealing contract is allowed
A. under any circumstances.
B. unless its effect is to cause a competitor a loss of any business.
C. unless its effect is to substantially lessen competition.
D. unless there is no effect on a competitor.
Answer: C
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Salvage value is
a. also called depreciable cost; b. part of accumulated depreciation; c. shown on the balance sheet as a contra-asset; d. an expense when the asset is sold; e. none of these.
Financial statements cannot be prepared until the accounts have been adjusted
Indicate whether the statement is true or false
Rennin Dairy Corporation is considering a plant expansion decision that has an estimated useful life of 20 years. This project has an internal rate of return of 15% and a payback period of 9.6 years. How would a decrease in the expected salvage value from this project in 20 years affect the following for this project? Internal Rate of ReturnPayback PeriodA)DecreaseDecreaseB)No effectDecreaseC)DecreaseNo effectD)IncreaseNo effectE)No effectNo effect
A. Choice A B. Choice B C. Choice C D. Choice D E. Choice E
One way analysts measure the ability of a company to meet its obligations is to calculate the times interest earned ratio for any outstanding debt the company may have. How would a company with $100,000 of outstanding bonds paying 8.5% annually and income before interest and taxes of $50,000, calculate the interest coverage (accrual basis) ratio?
A. Income before interest and taxes divided by the interest expense. B. Income before interest and taxes divided by carrying value of the bonds outstanding. C. Income before interest and taxes divided by the face value on bonds. D. Face value of the bonds divided by income before interest and taxes.