A member's ownership interest in an LLC is called a ________.
A. certificate of interest
B. distributional interest
C. collateral interest
D. creditor's interest
Answer: B
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Dotterel Corporation uses the variable cost concept of product pricing. Below is cost information for the production and sale of 35,000 units of its sole product. Dotterel desires a profit equal to a 11.2% rate of return on invested assets of $350,000. Fixed factory overhead cost $105,000 Fixed selling and administrative costs 35,000 Variable direct materials cost per unit 4.34 Variable direct
labor cost per unit 5.18 Variable factory overhead cost per unit .98 Variable selling and administrative cost per unit .70 The dollar amount of desired profit from the production and sale of the company's product is: A) $89,600 B) $39,200 C) $70,000 D) $84,000
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Walter Industries' current ratio is 0.5. Considered alone, which of the following actions would increase the company's current ratio?
A. Borrow using short-term notes payable and use the cash to increase inventories. B. Use cash to reduce accruals. C. Use cash to reduce accounts payable. D. Use cash to reduce short-term notes payable. E. Use cash to reduce long-term bonds outstanding.