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
d
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In a meeting to discuss pension plans, management decides to offer retirement plans exclusively to the organization's owners and top managers. Jeremy, one of the top managers, disagrees with this decision because he believes the company can benefit more by providing pensions to a broad range of employees. Which statement strengthens Jeremy's belief?
A. Pension plans are determined exclusively by state and federal laws. B. Extending pension plans to employees at all levels will triple the costs. C. The ADEA provides more favorable tax treatment of benefits when they are offered to a broad range of employees. D. A top-heavy plan requires faster vesting for non-key employees. E. Nondiscrimination rules provide tax benefits to plans that do not favor the organization's highly compensated employees.
Which of the following statements is true regarding a defined contribution pension plan?
A) The pension benefits to be received by the employee during retirement are defined in the plan. B) Defined contribution plans have the more complex accounting issues than defined benefit plans. C) Defined contribution plans do not define the benefits that the pension plan must pay to retired employees. D) Employers that use defined contribution plans are assuming more risks than employers that use defined benefit plans.
The production cost report for Department 1 shows that $159,000 was assigned to the 38,000 units transferred to Department 2. This transfer cost assigned to units transferred to Department 2 is recorded with a debit to Work-in-Process—Department 1
Indicate whether the statement is true or false
With _________ compression receivers can reproduce an exact digital duplicate of the original audio stream transmitted by the sender by expanding/decompressing the file that is received
Fill in the blanks with correct word