Simple interest on a loan can be calculated by multiplying the principal by the annual interest rate expressed as a percentage of the time in years or a fraction of the time in years
a. True
b. False
Indicate whether the statement is true or false
True
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In seeking competitive advantage, the first law of business is to
A. take care of your shareholders. B. take care of your stakeholders. C. take care of the customer. D. take care of the environment. E. take care of your employees.
Caruso, Inc has an inventory turnover rate of 8 times. If its cost of goods sold is $150,000, then
a. The company will report sales of $1,200,000. b. The gross margin will be $1,200,000. c. The company's average inventory is $18,750. d. It sells its inventory 1,200 times per year.
A small stock dividend normally results in a transfer from Retained Earnings to Contributed Capital of an amount equal to the par value of the stock
Indicate whether the statement is true or false
Selected information for Henriot Company is as follows: December 31 2013 2014 Common stock ................................ $600,000 $600,000 Additional paid-in capital .................. 250,000 250,000 Retained earnings ........................... 170,000 370,000 Net income for year ......................... 120,000 240,000 Henriot's return on common stockholder's equity, rounded to the nearest
percentage point, for 2014 is a. 20 percent. b. 21 percent. c. 28 percent. d. 40 percent.