Comparing one company with another in the same industry should cause no problems since companies in the same industry are required to use the same GAAP
a. True
b. False
Indicate whether the statement is true or false
False
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The higher the net profit margin of a company, the more money the company earns.
Answer the following statement true (T) or false (F)
Use this information to answer the following question. The transactions below pertain to Dunhill Company, whose fiscal year ends April 30. April 10 Received cash for a 90-day, 12 percent, $50,000 note payable. Interest is in addition to the face value. 30 Made end-of-year adjusting entry to accrue interest expense. The entry to record the April 10 transaction (amounts rounded) is:
A) Cash 1,480 Notes Payable 1,480 B) Cash 48,520 Accounts Receivable 48,520 C) Cash 48,520 Notes Payable 48,520 D) Cash 50,000 Notes Payable 50,000
A nonprofit CEO and his staff are discussing the status of their nonprofit’s ability to achieve its mission. One staff member commented the organization has experienced a roller-coaster ride of ups and downs over the years and it may be time to change the organization’s processes. According to Andreasen, this nonprofit is in which stage of social change?
A. climbing the agenda B. discovery of the problem C. inattention to the problem D. reassessing and redirecting efforts
If variable expenses decrease and the price increases, the breakeven point decreases
Indicate whether the statement is true or false