Which of the following is an accurate interpretation of z = 2.5?
a. The score is at the 2.5 (3rd) percentile
b. The score is 2.5 standard deviations above the mean
c. 2.5% of scores fall below this z-score
d. 2.5% of scores fall above this z-score
b. The score is 2.5 standard deviations above the mean
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The first page of an annotated presentation is usually:
a. an opaque slide b. an executive summary c. your cover slide d. none of the above
Galaxy Company sold merchandise costing $3700 for $6400 cash. The merchandise was later returned by the customer for a refund. The company uses the perpetual inventory system. What effect will the sales return have on the financial statements? (Consider the effects of both parts of this event.)
A. Total assets decrease by $6400 and total stockholders' equity decreases by $3700. B. Total assets and total stockholders' equity decrease by $2700. C. Total assets and total stockholders' equity decrease by $6400. D. Total assets and total stockholders' equity increase by $2700.
Amanda ordered fifty personalized sweatshirts from King Manufacturing Company. After the shirts were specially imprinted, but before they were mailed, Amanda called King Manufacturing to disavow the contract. The next day the sweatshirts were stolen. In this case:
a. Amanda must pay the entire purchase price, because she breached the contract. b. King Manufacturing will have to bear the entire loss, because it had not yet mailed the shirts. c. Amanda must bear the entire loss, because the shirts were identified to the contract. d. King must first seek payment from its insurance carrier, and then collect from Amanda for any amount not covered by insurance.
Trumbeak Inc., an electronics company, needs to pay its debt to Breston Bank the following year. Trumbeak Inc. sells half of its shares to other companies and is able to acquire the cash it needs to pay its debt. In this scenario, Trumbeak Inc.'s ability to sell its shares to other companies in order to pay its debt to Breston Bank is measured by calculating _____.
A. asset management ratios B. profitability ratios C. leverage ratios D. liquidity ratios