Property voluntarily placed by its owner and inadvertently forgotten is abandoned property.
Answer the following statement true (T) or false (F)
False
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A company with working capital of $600,000 and a current ratio of 4:1 pays a $40,000 short-term liability. The amount of working capital immediately after payment is ________
a. $560,000 b. $640,000 c. $600,000 d. $520,000
__________is a fast-growing way to conduct global business in which all or part of the payment for goods or services is in the form of other goods and services
Fill in the blanks with correct word.
A property owner can use reasonable force to remove a trespasser
Indicate whether the statement is true or false
Pierce Corporation, a U.S. business, is a direct competitor of Zeiss Company, a German firm. The two firms not only compete for customers, but also for investment capital. In Year 1, each company spent about $35,000 U.S. dollars or the equivalent on research and development. U.S. GAAP requires the entire amount to be expensed, while Germany requires its businesses to record R&D expenditures as an asset and then to expense it over its useful life. Assuming the treatment of R&D is the only difference between the two firms, which of the following is correct?
A. Pierce will have a higher debt-to-assets ratio than Zeiss in Year 1. B. This difference in accounting principles does not affect the total amount of assets reported by the two companies. C. Zeiss will have a lower net income for Year 1. D. Pierce will have higher total assets than Zeiss in Year 1.