Most people find it difficult to determine how much money they want to have in their future in addition to what they want to spend their money on
Indicate whether the statement is true or false
False
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When a new partner is admitted to a partnership, there should be a(n)
a. revaluation of assets b. realization of assets c. allocation of assets d. return of assets
The successful marketer understands that the key to her success is the relationships her firm is able to develop with current customers and potential customers. Moreover, her goal is to achieve the full potential of each of these relationships for the benefit of the firm. This marketer clearly understands
A. that the only way for the firm to increase profits is to constantly acquire new customers. B. that customers' needs, desires and habits are homogeneous. C. that customer loyalty leads to increasing long-term profitability for the firm. D. that data is of limited use in helping the firm understand the needs of customers. E. that customer lifetime value includes only the value of what customers purchase from the firm.
The treasurer typically manages a firm's cash, investing surplus funds when available and securing outside financing when needed
Indicate whether the statement is true or false
The balance sheet of the Emery Company is presented below:
Emery Company Balance Sheet March 31, 2010 (Millions of Dollars) Current assets $18 Accounts payable $9 Fixed assets 38 Notes payable 0 Total $56 Long-term debt 15 Common equity 32 Total $56 For the year ending March 31, 2010, Jackson had sales of $58 million. The common stockholders receive all net earnings of the firm in the form of cash dividends, leaving no funds from earnings available to the firm for expansion (assume that depreciation expense is just equal to the cost of replacing worn-out assets). Construct a pro forma balance sheet for March 31, 2011 for an expected level of sales of $75.4 million. Assume current assets and accounts payable vary as a percent of sales, and fixed assets remain at the present level. Use notes payable as discretionary financing.