Failure to record the earned portion of unearned revenue would result in which of the following?
A) Net income being understated
B) No effect on total liabilities
C) Stockholders' equity being overstated
D) Total assets being understated
A
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The ________ method is based on minimum distance or the nearest neighbor rule
A) single linkage B) medium linkage C) complete linkage D) average linkage
Mercantile Corporation has sales of $2,000,000, variable costs of $800,000, and fixed costs of $900,000. Mercantile’s degree of operating leverage is
a. 1.33 b. 1.67 c. 1.50 d. 4.00
Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to its customers. To retain customer loyalty, it provides fast, courteous service in a clean, professional-looking environment. Gerald's has used this strategy for over 40 years, expanding to 15 outlets. Gerald's Tire Store uses a ________ macro strategy.
A. supply chain excellence B. locational excellence C. customer excellence D. product excellence E. diversification excellence
Creditors of Northern Hydraulics file an involuntary bankruptcy petition against the company and the petition is approved. What is true of Northern Hydraulics?
a. Northern Hydraulics has at least $10,425 in debts. b. There are at least 12 creditors. c. A custodian has automatically been appointed. d. It must make all the filings necessary under a voluntary petition.