Compensatory damages compensate a party injured by a breach of contract by punishing the party that breached the contract
a. True
b. False
Indicate whether the statement is true or false
False
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By convention, the top level in a product structure is designated level 1
Indicate whether the statement is true or false
Essentially, adequacy of consideration concerns the fairness of a bargain
Indicate whether the statement is true or false
Geary, Inc. had the following sales during Year 2:Cash sales$ 240,000Credit sales$ 1,200,000Credit card sales$ 4,000,000Geary also had the following beginning and ending balances in the receivables accounts:BeginningEndingCredit sales$ 240,000$ 180,000Credit card sales$ 800,000$ 840,000Geary, who uses the allowance method of accounting for uncollectible accounts, estimated that 3% of the credit sales will go uncollected. The credit card company charges Geary a 4% service charge.Required:a) How will Geary's year-end adjusting entry for uncollectible accounts expense affect the company's financial statements?AssetsLiabilitiesEquityRevenuesExpensesNet IncomeCashFlow???????b) How will the entry to record the credit card sales affect the company's financial
statements?AssetsLiabilitiesEquityRevenuesExpensesNet IncomeCashFlow???????c) What is Geary's cash flow from customers for the year? What will be an ideal response?
A firm has a return on equity of 20% and a dividend-payout ratio of 30%. The firm's anticipated growth rate is
A. 6%. B. 10%. C. 14%. D. 20%.