Warranty liability applies to persons who:
a. transfer an instrument.
b. obtain payment or acceptance of an instrument.
c. have signed the instrument, but not on those who have not signed.
d. All of these.
e. Both transfer an instrument and obtain payment or acceptance of an instrument are correct.
e
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Refer to the balance sheet above. When using the book value of equity, the debt-equity ratio for Luther in 2006 is closest to ________
Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Assets 2006 2005 Liabilities and Stockholders' Equity 2006 2005 Current Assets Current Liabilities Cash 65.6 58.5 Accounts payable 88.8 73.5 Accounts receivable 54.3 39.6 Notes payable / short-term debt 10.7 9.6 Inventories 45.8 42.9 Current maturities of long-term debt 38.7 36.9 Other current assets 5.5 3.0 Other current liabilities 6.0 12.0 Total current assets 171.2 144.0 Total current liabilities 144.2 132.0 Long-Term Assets Long-Term Liabilities Land 65.3 62.1 Long-term debt 234.4 168.9 Buildings 109.4 91.5 Capital lease obligations Equipment 116.3 99.6 Less accumulated depreciation (57.9) (52.5) Deferred taxes 22.8 22.2 Net property, plant, and equipment 233.1 200.7 Other long-term liabilities --- --- Goodwill 60.0 -- Total long-term liabilities 257.2 191.1 Other long-term assets 63.0 42.0 Total liabilities 401.4 323.1 Total long-term assets 356.1 242.7 Stockholders' Equity 125.9 63.6 Total Assets 527.3 386.7 Total liabilities and Stockholders' Equity 527.3 386.7 A) 4.51 B) 2.25 C) 1.13 D) 3.16
Given that Z is a standard normal variable, the variance of Z:
a. is always greater than 2.0. b. is always greater than 1.0. c. is always equal to 1.0. d. cannot assume a specific value.
For a chi-square goodness-of-fit-test, the calculated chi-square value is 7.21. If the table chi-square value is 10.645, what is the appropriate decision for this test?
A) Reject the null hypothesis. B) Fail to reject the null hypothesis. C) Accept both the null and the alternative hypothesis. D) It is impossible to determine anything from the given information.
The responsibility for coordinating the preparation of a master budget should be assigned to the Chief Executive Officer.
Answer the following statement true (T) or false (F)