A feasibility study involves ______.
a. a 5-year plan to scale the business
b. at least 15 pages of appendices for investors to examine
c. action, testing, information gathering, and analysis
d. the creation of detailed financial projections and cash flow analysis
c. action, testing, information gathering, and analysis
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Dividing quick assets by current liabilities is the calculation for the
a. current ratio. b. return on investment. c. acid-test ratio. d. ratio of liabilities to stockholders' equity.
Netherland Corporation has the following unadjusted balances: Accounts Receivable, $91,000 (debit), and Allowance for Sales Discounts $410 (credit). Of the receivables, $61,000 of them are within the 2% discount period, and Netherland expects buyers to take $1220 in future-period discounts ($61,000 × 2%) arising from this period's sales. The adjusting entry or entries to estimate sales discounts is (are):
A.
| Sales Discounts | 1220? | |
| Accounts Receivable | 1220? |
B.
| Sales Discounts | 1220? | |
| Allowance for Sales Discounts | 1220? |
C.
| Sales Discounts | 810? | |
| Allowance for Sales Discounts | 810? |
D.
| Accounts Receivable | 91,000? | |
| Sales | 91,000? |
E.
| Sales Discounts | 61,000? | |
| Sales | 61,000? | |
| Cost of Goods Sold | 1220? | |
| Inventory Returns Estimated | 1220? |
If you are given the opportunity to select your interview day and time, you should pick a Monday or a Friday
Indicate whether the statement is true or false
Angela uses fraudulent means to induce Walter to enter a sales contract. Angela obtains a voidable title to the goods
a. True b. False Indicate whether the statement is true or false