Alimony and child support obligations are considered priority claims
Indicate whether the statement is true or false
True
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The PJC department of McIntyre Company shows gross sales of $730,600 for computer supplies and $934,900 for general office supplies. It has determined that computer supplies cost $534,000 and that general office supplies cost $391,400 . What is the gross profit percentage for the computer supplies section of the PJC department?
a. $196,600 b. 1.4% c. 26.9% d. 73.0%
The projected benefit obligation (PBO) is equal to the
A) actuarial present value of all benefits earned as of a specified date, both vested and nonvested, by employees using current salary levels in the pension plan formula. B) difference between the annual pension expense and the amount actually funded during the year. C) actuarial present value of all benefits earned as of a specified date, both vested and nonvested, by employees using anticipated future salary levels in the pension plan formula. D) actuarial present value of benefits attributed by the pension plan formula to services rendered by employees during the current year.
The ________ binds the corporation on receipts, checks, and endorsements.
A. treasurer B. chairman C. corporate secretary D. vice president
Times interest earned is calculated by:
A. Dividing income before interest expense by interest expense and income taxes. B. Dividing income before interest expense and income taxes by interest expense. C. Multiplying interest expense by income before interest expense. D. Multiplying interest expense by income. E. Dividing interest expense by income before depreciation and interest expense.