One of the purposes of the Federal Financial Management Improvement Act of 1996 was to:
A. Establish generally accepted federal accounting principles.
B. Establish a requirement that the financial statements of the federal government as a whole be audited.
C. Improve the effectiveness of programs receiving federal funds.
D. Rebuild the credibility and restore public confidence in the federal government.
Answer: D
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JRJ Corporation issued 10-year bonds at a price of $1,000. These bonds pay $60 interest every six months. Their price has remained the same since they were issued; that is, the bonds still sell for $1,000. Due to additional financing needs, the firm wishes to issue new bonds that would have a maturity of 10 years and a par value of $1,000 and pay $40 interest every six months. If both bonds have the same yield, how many new bonds must JRJ issue to raise additional capital of $2 million? Fractions of bonds cannot be issued. (Round the number of bonds to the nearest whole number.)
A. 2,404 B. 2,596 C. 3,073 D. 5,282 E. 4,275
A company faces a fixed cost of $568 and sells items at a 50% markup on their cost of $12. What is their break-even point in both units and dollar sales?
What will be an ideal response?
The income statement begins with revenue and subtracts various operating expenses until arriving at the intermediate point of ________
A) earnings after taxes B) net income C) taxable income D) EBIT
Typically used in larger workstations, coprocessors are ____ processors that speed processing by executing specific types of instructions while the CPU works on another processing activity.
A. general-purpose B. special-purpose C. either a. or b. D. neither a. nor b.