Under the RMBCA, if a quorum exists, a shareholder action such as the election of directors is approved if the votes cast for the action exceed the votes cast against it
Indicate whether the statement is true or false
False
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Property taxes on the factory buildings should be charged to factory overhead
a. True b. False Indicate whether the statement is true or false
Which of the following is defined as selling unused assets for a promise to buy them or similar assets back at roughly the same price?
a. Bill-and-hold sales b. Kiting c. Channel stuffing d. Round-tripping
Sinking funds are devices used to force companies to retire bonds on a scheduled basis prior to their maturity. Many bond indentures allow the company to acquire bonds for a sinking fund by either purchasing bonds in the market or selecting the bonds to be acquired by a lottery administered by the trustee through a call at face value.
Answer the following statement true (T) or false (F)
The ability to pay bills when due and to meet unexpected needs for cash most closely describes
A) cash flow adequacy. B) long-term solvency. C) liquidity. D) profitability.