Which of the following businesses can use the cash method?
I. The Hateris Group, a partnership with 3 equal partners, of which one is The Hillard Corporation. Average revenues for the Hateris Group, a financial planning firm, over the last three years are $4,000,000.
II. The Glidder Corporation, a clothing retailer that has average annual sales over the last three years are $2,100,000
a. Only statement I is correct.
b. Only statement II is correct.
c. Both statements are correct.
d. Neither statement is correct.
d
You might also like to view...
Which of the following is considered to be the output in the systems thinking example of a TPS?
A. Source Document B. Report C. CRUD D. Calculate
John&'s Food Market had the following financial data at December 31, 2018:
Cash and cash equivalents $ 78,000
Total current liabilities 130,000
a. What is the cash ratio as of December 31, 2018? Show the formula and your computations.
b. Comment on the cash ratio for Metro Construction Company.
Taylor manufactures 12,000 units of a part used in its production to manufacture guitars. The annual production activities related to this part are as follows: Direct materials, $24,000 Direct labor, $60,000 Variable overhead, $54,000 Fixed overhead, $84,000 Best Guitars, Inc, has offered to sell 12,000 units of the same part to Taylor for $22 per unit. If Taylor were to accept the offer, some of
the facilities presently used to manufacture the part could be rented to a third party at an annual rental of $18,000 . Moreover, $4 per unit of the fixed overhead applied to the part would be totally eliminated. What should Taylor's decision be, and what is the total cost savings that would result? a. Make, $60,000 b. Buy, $60,000 c. Make, $78,000 d. Buy, $78,000
The strategies for structuring effective good- and neutral-news messages
a. follow the inductive sequence. b. vary dramatically from one company to another. c. can generally be applied to cultures around the world. d. are generally consistent among North American audiences.