The gross profit percentage is one of the most carefully watched measures of ________
A) profitability
B) liquidity
C) solvency
D) marketability
A
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Using a periodic inventory system, Bertram Company records inventory at lower of cost or market using the allowance method. The end-of-the-year journal entries to adjust inventories would include ?
A) ?a debit to Inventory to close beginning inventory at cost value. B) ?a debit to Inventory to close ending inventory at market value. C) ?a debit to Loss Due to Market Valuation for the excess of cost over market value. D) ?a credit to Allowance to Reduce Inventory for the excess of market over cost value.
A tile manufacturer has supplied the following data: Boxes of tiles produced and sold 520,000Sales revenue$2,132,000Variable manufacturing expense$650,000Fixed manufacturing expense$464,000Variable selling and administrative expense$260,000Fixed selling and administrative expense$312,000Net operating income$446,000The company's contribution margin ratio is closest to:
A. 57.3% B. 45.8% C. 21.0% D. 42.7%
Which of the following is true with regard to the new engine, upholstery, and stereo player the thief installed in John's car?
A) These improvements have to be returned to the thief. B) These improvements now rightfully belong to John. C) The improvements have to be paid for by John if he wants to retain them. D) The improvements will be confiscated by the police.
Lance ____ me that my job would not be eliminated
A) insured B) ensured C) assured