When a bid is made at an auction, it can be revoked if the auctioneer has not yet accepted the bid because the auctioneer has the power of acceptance
Indicate whether the statement is true or false
True
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Define customer equity, and explain why it is important to a company
What will be an ideal response?
If a "liquidation preference" is provided, preferred stock usually has priority over common stock
Indicate whether the statement is true or false
What is the main problem in using a balance sheet to provide an accurate assessment of the value of a company's equity?
A) Valuable assets such as the company's reputation, the quality of its work force, and the strength of its management are not captured on the balance sheet. B) The balance sheet does not accurately represent the book value of assets held by the company. C) The equity shown on the balance sheet does not reflect the market capitalization of the company. D) Knowing at a single point in time what assets a firm possesses and the liabilities a firm owes does not give any indication of what those assets can produce in the future.
What should a firm do after establishing a credit policy?
A) decide what should be done for those customers who do not pay their accounts on time B) monitor its accounts receivable to analyze whether its credit policy is effective C) decide on the length of the period before payment must be made D) determine what percent of monthly sales are collected in the month after that sale