If an item is ordered at its economic order quantity, the annual carrying cost should be:
a. slightly less than the annual ordering cost.
b. equal to the annual ordering cost.
c. twice the annual purchase price.
d. the square root of the annual ordering cost.
e. cannot be determined because there is insufficient information provided.
b
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The ________ section of the statement of cash flows includes increases and decreases in long-term assets.
A) investing activities B) financing activities C) operating activities D) non-cash operating activities
Before preparing the balance sheet and income statement, an accountant would use what accounting record to first record the firm's transactions?
a. the trial balance b. the adjusting entry c. the general ledger d. the journal e. the subsidiary ledger
The following balance sheet information was provided by O'Connor Company:AssetsYear 2 Year 1Cash$2600? $1600? Accounts receivable 7600? 5600 Inventory$26,000? $27,000? Assuming that net credit sales for Year 2 totaled $151,000, what is the company's most recent accounts receivable turnover?
A. 22.88 times B. 19.87 times C. 11.44 times D. 26.96 times
A Massachusetts statute banning the state from doing business with companies who also did
business with the nation of Myanmar was found to violate the Foreign Commerce Clause. Indicate whether the statement is true or false