One reason retailers use slotting fees is that retailers must spend money to add new products to inventories and to stock new merchandise
Indicate whether the statement is true or false
TRUE
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Which of the following does not describe an extraordinary gain or loss?
a. infrequent in occurrence b. peripheral to the company's core business c. unusual in nature d. material in amount
When a person dies intestate, the property the person owns:
A. will go to the biological children, not the adopted children. B. will be considered public property and will be at the government's disposal. C. will be distributed to the people designated as the intestate's heirs. D. escheats to the state.
Why is the quick ratio probably better than the current ratio as a measure of short-term liquidity?
Local Services, a voluntary health and welfare organization had the following classes of net assets on July 1, 20X8, the beginning of its fiscal year: Unrestricted$500,000 Temporarily restricted 100,000 Permanently restricted 1,000,000 During the year ended June 30, 20X9, the following events occurred:(1) It purchased equipment, costing $100,000, with contributions restricted for this purpose. The contributions had been received from donors during June of 20X8. (2) It received $130,000 of cash donations which were restricted for research activities. During the year ended June 30, 20X9, $90,000 of the contributions were expended on research. (3) It sold investments classified in the net assets with donor restrictions class for a loss of $40,000. Dividends and interest income
earned on the investments amounted to $70,000. There were no restrictions on how investment income was to be used. (4) It received cash contributions of $200,000 from donors who did not place either time or use restrictions upon their donations. (5) Expenses, excluding depreciation expense, for program services and supporting services incurred during the year ended June 30, 20X9, amounted to $260,000. (6) Depreciation expense for the year ended June 30, 20X9, was $80,000. Refer to the above information. On the statement of activities for the year ended June 30, 20X9, net assets with donor restrictions: A. increased $40,000. B. decreased $60,000. C. decreased $100,000. D. increased $130,000.