How is the growth stage of the product life cycle (PLC) characterized with respect to sales revenue and profitability?
Ans: sales begin to decline
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If an economy is in a recession, with output below its full-employment level, a(n) ____ fiscal policy can be used to return the economy to its long-run equilibrium, which would cause the price level to ____.
A. expansionary; increase B. expansionary; decline C. contractionary; decline D. contractionary; increase
On January 1, 2014, New Country issued $200,000 of ten-year 8% bonds at 98. These bonds were callable at 102 at any time after three years. Straight-line amortization was used. On January 1, 2018, a new bond issue was sold and the old bonds were called. What was the loss on bond retirement?
A) $2,000 B) $4,400 C) $6,400 D) $8,000
Globalization refers to the interpenetration of the local and global
Indicate whether the statement is true or false.
Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.) 1) Acquired $1200 cash from the issue of common stock. 2) Borrowed $670 from a bank. 3) Earned $850 of revenues. 4) Paid expenses of $300. 5) Paid a $100 dividend. During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.) 1) Issued an additional $575 of common stock. 2) Repaid $395 of its debt to the bank. 3) Earned revenues of $1000. 4) Incurred expenses of $460. 5) Paid dividends of $150. What is the after-closing amount of retained earnings that will be reported on Packard's balance sheet at the end of Year 2? (Assume that closing entries have been)
A. $1315. B. $840. C. $990. D. $1240.