Large sales volume and efficient operation are usually very important for supermarkets, since net profits usually run at 1 to 2 percent of sales or less.
Answer the following statement true (T) or false (F)
True
Supermarkets are planned for maximum efficiency with large-volume sales. Net profits in supermarkets usually run a thin 1 to 2 percent of sales or less.
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Spice Company issued $200,000 of 10 percent first mortgage bonds on January 1, 20X4, at 105. The bonds mature in 10 years and pay interest semiannually on January 1 and July 1. Pumpkin Corporation purchased $140,000 of Spice's bonds from the original purchaser on January 1, 20X8, for $122,000. Pumpkin owns 75 percent of Spice's voting common stock.Based on the information given above, what amount of gain or loss on bond retirement will be reported in the 20X8 consolidated financial statements?
A. $22,200 B. $17,000 C. $12,800 D. $18,500
____ reports allow people to take quick, corrective action when it is most needed.
A. Key-indicator B. Key-index C. Key-information D. Key-intelligence
One major concern that IT managers have about cloud computing is:
A) security. B) redundancy. C) ease of use. D) backward compatibility. E) overuse.
The method of accounting that recognizes a transaction when it occurs is:
A) financial accounting. B) cash accounting. C) cost accounting. D) accrual accounting.