A company that has days' sales uncollected of 30 days and days' sales in inventory of 18 days implies that inventory will be converted to cash in about 12 days.
Answer the following statement true (T) or false (F)
False
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To sign the back of a check with just the name of the payee is an example of a
a. restrictive endorsement; b. signature card; c. blank endorsement; d. canceled check; e. legal requirement.
A manufacturing company has prepared the operating budget and the cash budget and is now preparing the budgeted balance sheet. The balance of Finished Goods Inventory can be taken from the ________.
A) production budget and cost of goods sold budget B) financial budget C) cash budget D) selling and administrative expenses budget
Why might a citizen not want to file suit under the False Claims Act against a company that has committed major fraud against the federal government and is now in bankruptcy?
a. When in bankruptcy, company executives are free from prosecution for financial issues. b. The company’s failure in the marketplace is already under a law suit. c. There is little point in filing suit if the company is unlikely to be able to pay back any of the money. d. The False Claims Act specifically protects companies in bankruptcy from prosecution.
In 2007 the U.S. SEC adopted new rules that permit _____ that list and trade their securities in the United States to apply IFRS in their financial reports filed with the SEC without any reconciliation to U.S. GAAP
a. U.S. SEC registrants b. non-U.S. SEC registrants c. EU SEC registrants d. Chinese SEC registrants e. all of the above