Norman, a musician, needs to buy sound equipment for his stage shows, but he does not have the required funds for it. He, therefore, purchases the equipment using a card issued by his bank that lets him clear the balance later. Although Norman does not need to pay the due amount immediately, he can only make purchases using the card for a limited amount of money. In this scenario, Norman's purchases are limited because he has a low _____.
A. loan-to-value ratio
B. annual shopping percentage
C. tax benefit
D. credit score
Answer: D
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A(n) ________ is a document that describes the marketing environment, outlines the marketing objectives and strategies, and identifies how the company will implement and control those strategies
A) marketing plan B) communications plan C) business plan D) operational plan E) financial plan
Other things equal, a higher leverage ratio implies:
A) a higher ROA. B) lower financial risk for shareholders. C) greater financial risk for shareholders. D) a lower ROE.
The Communications Workers of America (CWA) successfully collected 94 authorization cards from the 152 eligible employees of a telecommunications company. The CWA and the company agreed to skip a representation election and instead voluntarily begin negotiations. This decision is considered illegal under the National Labor Relations Act.
Answer the following statement true (T) or false (F)
Which of the following best describes a CPA's engagement to report on an entity's internal controls over financial reporting?
A) An audit engagement to render an opinion on the entity's internal control system. B) A prospective engagement to project, for a period of time not to exceed one year, and report on the expected benefits of the entity's internal control structure. C) A consulting engagement to provide constructive advice to the entity on its internal control system. D) An assurance engagement to examine and report on management's written assertions about the effectiveness of its internal control system.