To form an LLC, both a charter and an operating agreement must be filed with the Secretary of State in the jurisdiction where the business will operate
Indicate whether the statement is true or false
False
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________ states are more diffuse, less intense, and more enduring than ________ states, which tend to be more intense and directed at more specific targets.
Fill in the blank(s) with the appropriate word(s).
Goods in transit are included in a purchaser's inventory:
A. After the half-way point between the buyer and seller. B. When the supplier is responsible for freight charges. C. When the goods are shipped FOB shipping point. D. At any time during transit. E. If the goods are shipped FOB destination.
Which of the following is not true?
a. Accrual accounting measures the effects of transactions and events in the periods when they occur. b. Cash-basis accounting recognizes only cash receipts and disbursements. c. Under accrual accounting, firms recognize revenues when an arrangement satisfies the revenue recognition criteria, increasing net assets but not necessarily cash at the time of revenue recognition. d. Under accrual accounting, firms recognize expenses when an arrangement satisfies the expense recognition criteria, decreasing net assets but not necessarily cash at the time of expense recognition. e. Accrual accounting often uses the amount of cash received or paid in some period to measure the amount of revenues and expenses recognized during the current period, and the timing of revenue and expense recognition coincides with the timing of cash receipts and disbursements.
Bloome Co.'s stock has a 25% chance of producing a 30% return, a 50% chance of producing a 12% return, and a 25% chance of producing a ?18% return. What is the firm's expected rate of return?
A. 7.72% B. 8.12% C. 8.55% D. 9.00% E. 9.50%