Use the information presented below for Farley River, Inc for 2015 and 2014 to answer the questions that follow. Farley River uses the straight-line depreciation method. 2015 2014 Property, plant, and equipment $ 250,000 $190,000 Accumulated depreciation 100,000 85,000 Depreciation expense 62,500 47,500 Net sales 1,000,000 900,000 Average Total assets 625,000 475,000 Refer to the information for
Farley River, Inc What is the asset turnover ratio for Farley River for 2015?
a. 1.60 times
b. 1.82 times
c. 4.00 times
d. 4.55 times
a
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Partners Ana, Beth, and Cathy have capital account balances of $90,000 each. The income and loss ratio is 5:2:3, respectively. In the process of liquidating the partnership, noncash assets with a book value of $75,000 are sold for $30,000. The balance of Beth’s Capital account after the sale is
a. $67,500.
b. $76,500.
c. $81,000.
d. $99,000.
A promise lacks consideration if a person promises to perform an act or do something he or she is already under an obligation to do. This is called a(n) ________
A) illegal consideration B) preexisting duty C) gift promise D) illusory promise
Mindset has been traditionally described as:
a. a person’s inherent traits b. a type of personality c. a person’s emotional intelligence d. an established set of attitudes held by someone
Using action verbs in your résumé to describe your work responsibilities makes you seem less competent
Indicate whether the statement is true or false