In general, NDF markets normally develop for country currencies having large cross-border capital movements, but still subject to convertibility restrictions
Indicate whether the statement is true or false.
Answer: TRUE
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A check that has a full endorsement can be further endorsed by any bearer and, therefore, is not as safe as a check with a blank endorsement.
Answer the following statement true (T) or false (F)
Lineberger Corporation had the following information available from its 2011 balance sheet and income statement: Interest expense $68,000 Interest payable - beginning 4,500 Interest payable - ending 8,000 What amount would be reported as cash outflows for interest on the statement of cash flows for 2011 using the direct method?
A) $71,500 B) $80,500 C) $64,500 D) $55,500
Under the Fair Packaging and Labeling Act, which of the following governmental units promulgates rules governing the labeling and packaging of products?
A) the Federal Trade Commission B) the Occupational Safety and Health Administration C) the Interstate Commerce Commission D) the Department of Health and Human Services
Settles Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$142,000 $110,000 Accounts receivable, net 104,000 120,000 Inventory 119,000 120,000 Prepaid expenses 37,000 40,000 Total current assets 402,000 390,000 Plant and equipment, net 717,000 720,000 Total assets$1,119,000 $1,110,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$156,000 $180,000 Accrued liabilities 84,000 70,000 Notes payable, short term 66,000 60,000 Total current liabilities 306,000 310,000 Bonds payable 250,000 250,000 Total liabilities 556,000 560,000 Stockholders' equity: Common stock, $4 par
value 240,000 240,000 Additional paid-in capital 90,000 90,000 Retained earnings 233,000 220,000 Total stockholders' equity 563,000 550,000 Total liabilities & stockholders' equity$1,119,000 $1,110,000 Income StatementFor the Year Ended December 31, Year 2Sales (all on account)$1,360,000 Cost of goods sold 850,000 Gross margin 510,000 Operating expenses 462,692 Net operating income 47,308 Interest expense 19,000 Net income before taxes 28,308 Income taxes (35%) 9,908 Net income$18,400 Dividends on common stock during Year 2 totaled $5,400. The market price of common stock at the end of Year 2 was $5.89 per share.The company's price-earnings ratio for Year 2 is closest to: A. 1.52 B. 12.53 C. 19.00 D. 7.46