RioFit was recently cited for three separate violations and fined a total of $38,025, which represents the maximum penalty for each violation. Based on this, it is likely that
A. all three violations were willful.
B. all three violations were serious.
C. two violations were serious and one was willful.
D. two violations were serious and one was unavoidable.
Answer: B
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Laws Corporation is considering the purchase of a machine costing $16,000. Estimated cash savings from using the new machine are $4,120 per year. The machine will have no salvage value at the end of its useful life of six years and the required rate of return for Laws Corporation is 12%. The machine's internal rate of return is closest to (Ignore income taxes.):Refer to Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided.
A. 18% B. 12% C. 16% D. 14%
A contingent liability is recorded in the accounting records
a. if the contingency has not been described already in the notes to the financial statements. b. if it possibly will become an actual liability and the exact amount is known. c. under no circumstances. d. if it probably will become an actual liability and the amount can be reasonably estimated.
If the cash balance at the beginning of the year was $13,200, what is the ending cash balance?
Specialty Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2018: Net cash provided by operating activities: $109,000 Net cash used for investing activities: $(114,500) Net cash provided by financing activities: $16,000 A) $23,700 B) $10,500 C) $13,200 D) $5500
If you had a small business and needed a sales force but did not wish to hire anyone, you could use the services of an independent agent.
Answer the following statement true (T) or false (F)