After posting the entries to close all revenue and expense accounts, Marker Company's Income Summary account has a credit balance of $6,000, and its Dividends account has a debit balance of $2,500. These balances indicate that net income for the current accounting period amounted to $3,500.
Answer the following statement true (T) or false (F)
False
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The following information was taken from the operating activity section of the 2014 statement of cash flows for Limited Corp: Additions to net income: Change in accounts payable $2,000 Deductions from net income: Change in inventories 8,000 Based on the information provided, which one of the following conclusions is correct?
a. Accounts payable decreased $2,000 in 2014. b. Inventories increased $8,000 in 2014. c. The direct method was used to prepare the operating section of the cash flow statement. d. Cash payments of merchandise exceeded cost of goods sold by $2,000.
If the present value of $3,000 to be received after a year is $2,795, the annual rate of discount must be
A. 5.65%. B. 7.33%. C. 9%. D. 11.11%.
Leadership can be understood and learned through ______.
a. role modeling b. context c. science d. art
What is test marketing? What role does it play in new product development? What factors do firms consider when determining whether or not to conduct test marketing?
What will be an ideal response?