Which one of the following adjustments increases net income for the period?
A) Recognition of the amount of supplies used.
B) Recognition of the revenue earned, but not yet received.
C) Recognition of the wages earned, but not paid to employees.
D) Recognition of rent costs that had been paid to the landlord in advance.
B
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What is the name of the database that is used to collect, validate, store, and disseminate data in support of government agency acquisitions?
A) General Services Administration database B) Central Contractor Registration database C) Customer Value Assessment database D) Vendor-Managed Inventory database E) Proposal Solicitation database
Allowance for Doubtful Accounts has a credit balance of $1,500 at the end of the year (before adjustment), and an analysis of customers' accounts indicates doubtful accounts of $17,900. Which of the following entries records the proper provision for doubtful accounts?
A) debit Allowance for Doubtful Accounts, $16,400; credit Uncollectible Accounts Expense, $16,400 B) debit Allowance for Doubtful Accounts, $19,400; credit Uncollectible Accounts Expense, $19,400 C) debit Uncollectible Accounts Expense, $19,400; credit Allowance for Doubtful Accounts, $19,400 D) debit Uncollectible Accounts Expense, $16,400; credit Allowance for Doubtful Accounts, $16,400
A favorable labor climate might include all of the following EXCEPT:
A) a good work ethic. B) no union presence. C) high average wages. D) an educated work force.
Which of the following statements is CORRECT?
A. In general, a firm with low operating leverage also has a small proportion of its total costs in the form of fixed costs. B. There is no reason to think that changes in the personal tax rate would affect firms' capital structure decisions. C. A firm with a relatively high business risk is more likely to increase its use of financial leverage than a firm with low business risk, assuming all else equal. D. If a firm's after-tax cost of equity exceeds its after-tax cost of debt, it can always reduce its WACC by increasing its use of debt. E. Suppose a firm has less than its optimal amount of debt. Increasing its use of debt to the point where it is at its optimal capital structure will decrease the costs of both debt and equity.