Long-term financial plans must include capital expenditures

Indicate whether this statement is true or false.


Answer: TRUE

Business

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Which of the following is not correct regarding the provisions of IAS No. 8 on accounting changes and error corrections?

a. A change in accounting estimate is reflected in the current and future periods. b. A change in depreciation method (such as from an accelerated method to the straight-line method) is classified as a change in estimate. c. A change in depreciation method (such as from accelerated method to the straight-line method) is classified as a change in accounting principle. d. IAS No. 8 generally reflects a preference for restating prior results to improve comparability of financial statements.

Business

Stage 2 of the group development stages is characterized by ______ development.

a. high b. outstanding c. moderate d. low

Business

The size of a retailer's trading area is based solely upon residents, not employees in office buildings or factories

Indicate whether the statement is true or false

Business

The following balance sheet information was provided by O'Connor Company:Assets Year 2  Year 1 Cash$4,000 $2,000 Accounts receivable 15,000  12,000 Inventory$35,000 $38,000 Assuming that net credit sales for Year 2 totaled $270,000, what is the company's most recent accounts receivable turnover?

A. 7.7 times B. 18 times C. 22.5 times D. 20 times

Business