Population demographics have an impact on financial factors such as revenue per capita.
Answer the following statement true (T) or false (F)
True
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Carver Company's balance sheet and income statement are provided below:Carver CompanyBalance SheetDecember 31Assets?Cash$ 40,000Accounts receivable52,000Inventory80,000Plant and equipment, net of depreciation280,000Land held for future plant expansion 76,000Total assets$ 528,000??Liabilities and Stockholders' Equity?Accounts payable$ 45,000Notes payable58,000Capital stock, no par240,000Retained earnings 185,000Total liabilities and stockholders' equity$ 528,000Carver CompanyIncome StatementFor the Year Ended December 31Sales$ 330,000Less variable costs:? Manufacturing68,000 Selling and administrative 48,000Contribution margin$ 214,000Less fixed costs:? Manufacturing68,000
Selling and administrative 56,000Net income$ 90,000Required:Compute the margin, turnover, and return on investment for Carver Company. What will be an ideal response?
The majority of the money spent at mass-merchandisers and supermarkets results from unplanned, impulse purchases
Indicate whether the statement is true or false
What happens to the accounting equation when the adjustment for depreciation expense for the accounting period is recorded?
a. Assets decrease and stockholders' equity decreases. b. Assets increase and stockholders' equity increases. c. Assets decrease and liabilities decrease. d. Liabilities increase and stockholders' equity decreases.
Pension-related estimates (not funding data) are provided by the
a. employer company. b. independent actuary. c. pension fund trustees. d. employee union.