As Dean calculates his current assets for his used video game store, he is sure to include which of the following?
A. Fixed assets
B. Accrued liabilities
C. Notes receivable
D. Retained earnings
E. Merchandise inventory
Answer: E
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Kim, a real estate dealer, and others form Eagle Corporation under § 351. Kim contributes inventory (land held for resale) in return for Eagle stock. The holding period for the stock includes the holding period of the inventory.
Answer the following statement true (T) or false (F)
Last year Lawson Company reported sales of $150,000 on its income statement. During the year, accounts receivable decreased by $15,000 and accounts payable decreased by $35,000. The company uses the direct method to determine the net cash flows from operating activities on the statement of cash flows. The sales revenue adjusted to a cash basis would be:
A) $165,000. B) $185,000. C) $170,000. D) $130,000.
Which component of structure is described by “the extent to which decisions are made at the top of the organization?”
a. Specialization b. Formalization c. Standardization d. Centralization
In the original Modigliani/Miller world, the value of the firm is sensitive to the funding choice between debt and equity
Indicate whether the statement is true or false.