To calculate the price-earnings ratio, use the following formula:
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Answer the following statement true (T) or false (F)
False
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For each of the following oversights, state whether total assets will be understated, overstated, or not affected. ______
a. Failure to record revenue earned but not yet received ______ b. Failure to record expired rent ______ c. Failure to record accrued interest in the bank ______ d. Failure to record depreciation ______ e. Failure to record accrued wages ______ f. Failure to convert unearned revenue to earned revenue
Security Inc manufactures equipment that is sold or leased. On December 31 . 2014, Security leased equipment to Quirky for a five-year period expiring December 31 . 2019, at which date ownership of the leased asset will be transferred to Quirky. Equal $40,000 payments under the lease are due on December 31 of each year. The first payment was made on December 31 . 2014 . Collectibility of the
remaining lease payments is reasonably assured, and Security has no material cost uncertainties. The normal sales price of the equipment is $144,000 and cost is $110,000 . For the year ended December 31 . 2014, how much income should Security recognize from the lease transaction? a. $46,000 b. $40,000 c. $34,000 d. $28,000
Melody is responding negatively to a request for a claim. Which of the following would she NOT do in composing her message to the customer?
a. Begin the message with a neutral, dependent clause, followed by a statement implying the refusal. b. Include sales promotional and resale material in the last paragraph. c. Offer an alternative service as a gesture of goodwill. d. Present the reasoning behind her decision without using emotional wording.
The contract between the buyer and the seller may expressly limit or exclude consequential damages so long as the contract is not unconscionable
a. True b. False Indicate whether the statement is true or false