Rialto Company collected $5,000 on account. What impact will this transaction have on the firm's current ratio?
A. Decrease it
B. No impact
C. Increase it
D. Not enough information is provided to answer the question.
Answer: B
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Millennials comprise the most financially affluent group in America today
Indicate whether the statement is true or false
Firms can purchase financial instruments to reduce certain business risks, that is, to reduce the volatility of certain outcomes. The outcomes include changes in
a. interest rates, only. b. foreign exchange rates, only. c. commodity prices, only. d. interest rates and foreign exchange rates, only. e. interest rates, foreign exchange rates, and commodity prices.
U.S. GAAP and IFRS provide criteria for distinguishing operating leases from capital leases. Which of the following is/are not true?
a. U.S. GAAP provides four criteria, any one of which qualifies a lease as a capital lease. b. IFRS provides general criteria for identifying the entity enjoying the rewards and incurring the risk. c. Firms cannot currently apply the fair value option to capital leases. d. The FASB and the IASB have undertaken a joint project involving the lessee's accounting for leases which may result in treating all leases as operating leases. e. all of the above
If no place of tender is indicated by the contract, it is presumed delivery is to be made at the buyer's place of business
Indicate whether the statement is true or false