The main differences between the financial statements of a manufacturing business and a retail business are in the cost of goods sold section of the income statement and the current liabilities section of the balance sheet
Indicate whether the statement is true or false
F
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Nelly Company sold its cattle ranching component on June 30, 2016, for a gain of $1,000,000. From January through June, the component had sustained operating income of $300,000. The income tax rate is 35%. How should Nelly report the income and the sale on its income statement?
A) as $300,000 operating income and a $1,000,000 gain on sale of component B) as a $1,300,000 gain in operating income C) as a net of tax gain of $845,000 after income from continuing operations D) as $195,000 operating income and a $650,000 gain on sale of the component
Once you begin submitting résumés, answer your cell phone every time it rings to make sure you don't miss an employer's call
Indicate whether the statement is true or false
Jerrel Corporation sells a product for $230 per unit. The product's current sales are 24,000 units and its break-even sales are 17,280 units.The margin of safety as a percentage of sales is closest to:
A. 39% B. 28% C. 72% D. 61%
Ethics is the study of right and wrong and of the morality of the choices we make.
Answer the following statement true (T) or false (F)