Which of the following would be more likely to justify granting credit?
A. A lower probability of payment
B. A lower selling price
C. A higher profit margin
D. A higher discount rate
Answer: C
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Leah Co reported $7,000 of net income for 2016. The following errors were then discovered: · Ending 2015 accrued expense was understated by $800. · Ending 2016 unearned revenue was overstated by $75. · Ending 2015 unearned revenue was overstated by $380. Ignoring income taxes, what is the correct amount of 2016 net income?
A) $6,505 B) $5,895 C) $7,495 D) $6,655
The amount of the expected return on plan assets is computed by multiplying the
a. beginning market-related value of the plan assets by the expected long-term rate of return on plan assets. b. ending market-related value of the plan assets by the expected long-term rate of return. c. average carrying value of the plan assets by the expected long-term rate of return on plan assets. d. beginning carrying value of the plan assets by the actuary's interest rate.
The following information relates to Marshall Manufacturing's current accounting period: Raw materials used$34,000 Direct labor wages 66,000 Sales salaries and commissions 50,000 Depreciation on production equipment 6,000 Rent on manufacturing facilities 4,000 Administrative supplies and utilities 10,000 Sales revenue 210,000 Units produced 10,000 Units sold 10,000 Based on this information, what is the company's net income?
A. $42,000 B. $40,000 C. $30,000 D. $70,000
Arbitration is another name for a court case
Indicate whether the statement is true or false