Cosmo Inc. purchased an asset costing $67,500 by paying $13,500 cash at date of purchase and giving the seller a 5-year interest-bearing note for the $54,000 balance. Cosmo's tax basis in the asset is $13,500.
Answer the following statement true (T) or false (F)
False
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Which of the following ratios is used to evaluate a company's liquidity?
A. Current ratio B. Fixed asset turnover ratio C. Return on equity ratio D. Debt-to-assets ratio
Impatience is one of the leading causes of con?ict
Indicate whether this statement is true or false.
An important purpose of the work sheet is to
A) accompany the financial statements in the company's annual report. B) aid the accountant in the daily preparation of journal entries. C) replace the journal when making adjusting and closing entries. D) check the accuracy of adjusting entries before they are entered formally into the accounting records.
If the most optimistic time for completing an activity is 17, the most likely time is 19, and the most pessimistic time is 33, then the estimated time for the activity is ______.
a. 21 b. 19 c. 34 d. 17