One of the purposes of the statement of cash flows is to ________.
A) determine the operating income of a business
B) to calculate inventory turnover
C) evaluate the level of debt and leverage of a company
D) predict the ability of a company to pay debts and dividends
D) predict the ability of a company to pay debts and dividends
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The three stripes on Adidas clothing represent
A. a patent. B. a trade secret. C. a trademark. D. trade dress.
________ is a necessary condition of high performance because it contributes to good long-term relationships with employees, customers, and the public.
A. Ethical behavior B. Emotional behavior C. Cognitive behavior D. Physical behavior E. Mental behavior
Verilux Company sold merchandise to Flight Corp on November 1, 2016, for $10,000 . Verilux accepted a promissory note from Flight Corp for $10,000 . The note has a term of 5 months and a stated interest rate of 7%. Verilux's accounting period ends on December 31, 2016 . What amount should Verilux recognize as interest revenue on the maturity date of the note?
a. $ -0- b. $ 175.00 c. $ 291.67 d. $ 420.00
The Taylor Company uses a process costing system. Assume that direct materials are added at the beginning of the period and that direct labor and overhead are added continuously throughout the process. The company uses the FIFO costing method. The following data are available for one of its accounting periods Units Beginning work in process 26,000 (70 percent complete for conversion costs) Units
started 180,000 Units transferred out 191,000 Ending work in process 15,000 (60 percent complete for conversion costs) Assume that you have calculated a direct materials cost per unit of $4 and a conversion cost per unit of $7. Under this assumption, the ending balance for Work in Process Inventory of Taylor Company would be A) $82,000. B) $165,000. C) $99,000. D) $123,000.