Which of the following users of financial statements primary interest is likely to be the ability of the business to pay its bills?
(a) Competitors.
(b) Customers.
(c) Government.
(d) Suppliers.
Ans: (d) Suppliers.
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Why are contracts prohibiting competition with a buyer of a business or an employer generally assignable with the sale of the business?
A. To protect the goodwill of the business B. To protect wage earners from unwisely impoverishing themselves C. To protect the employees from losing their jobs D. To protect the interest of the public
What is the key difference between the direct method and indirect method for preparing the Statement of Cash Flows?
a. presentation of Cash from Operations b. presentation of Cash from Investing c. presentation of Cash from Financing d. presentation of Cash from Investing and Cash from Financing e. presentation of Cash from Operations, Cash from Investing and Cash from Financing
Denny's Deli, Inc The stockholders' equity section of the December 31, 2011, balance sheet for Denny's Deli appeared as follows: Common stock, $20 par, 40,000 shares issued and outstanding $ 800,000 Additional paid-in capital 320,000 Retained earnings 600,000 Total stockholders' equity $ 1,720,000 Assume that all of the 40,000 shares of Denny's stock that was issued as of December 31, 2011, was
issued for $35 per share. On March 1, 2012, Denny reacquired 5,000 shares of its common stock for $43 per share. Refer to the information presented above for Denny's Deli, Inc Suppose that Denny reissued 1,500 shares of its treasury stock on June 1, 2012, for $50 each. Which of the following is true regarding the entry required to record this transaction? A) A debit to treasury stock is required for $64,500. B) A credit to treasury stock is required for $49,000. C) A debit to cash is required for $75,000. D) A debit to additional paid-in capital from treasury stock transactions is required for $10,500.
Central Bark Doggie Day Care opened the first day care center for dogs. It currently has 31 locations, with a new Gainesville, Florida, location coming soon
The concept of day care center for dogs became so popular that other competitors begin to enter the market. With competing companies such as Camp Bow Wow and others entering the market, it can be said that the concept of day care center for dogs is moving into the _____ stage of a product life cycle. a. introductory b. growth c. maturity d. decline