Intra-company standards for financial statement analysis:
A. Are based on rules of thumb.
B. Are based on a company's prior performance and relations between its financial items.
C. Are often set by competitors.
D. Are published by analyst services such as Standard & Poor's.
E. Are set by the company's industry through published statistics.
Answer: B
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a. True b. False
Which of the following is a source of secondary data for a firm that wants to gather information
about its competitors? A) after-sales service personnel B) distribution channels C) company customers D) company collateral
The Gallup organization telephones your home to inquire as to who you are considering
voting for in the upcoming election. This type of call is considered a: a. An outbound call. b. A solicitation call. c. An inbound call. d. None of the above.
Carpark Services began operations in 20X1 and maintains long-term investments in available-for-sale debt securities. The year-end cost and fair values for its portfolio of these investments follow. The year-end adjusting entry to record the unrealized gain/loss at December 31, 20X2 is:Available-for-Sale debt SecuritiesCost Fair ValueDecember 31, 20X1$250,000 $241,000December 31, 20X2$340,000 $337,000December 31, 20X3$410,000 $415,000
A. Debit Fair Value Adjustment - Available-for-Sale (LT) $3,000; Credit Unrealized Gain - Equity, $3,000. B. Debit Unrealized Gain - Equity $3,000; Credit Fair Value Adjustment - Available-for-Sale (LT) $3,000. C. Debit Fair Value Adjustment - Available-for-Sale (LT) $3,000; Credit Unrealized Loss - Equity $3,000. D. Debit Fair Value Adjustment - Available-for-Sale (LT) $6,000; Credit Unrealized Loss - Equity $6,000. E. Debit Fair Value Adjustment - Available-for-Sale (LT) $6,000; Credit Unrealized Gain - Equity $6,000.