Which of the following acts strives to improve corporate governance and the quality of corporate accounting/reporting?
A. Robinson-Patman.
B. Sarbanes-Oxley.
C. Bush-Cheney.
D. Franks-Ashcroft.
E. Taft-Hartley.
Answer: B
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The first step in constructing a personal code or mission for a firm is to:
A. identify clear steps as to how the cultural shift will occur. B. articulate a clear vision regarding the firm's direction. C. believe that the culture is actually possible and achievable. D. ask oneself what one stands for or what the firm stands for.
The ________ of the Fifth Amendment to the U.S. Constitution allows the government to take property for public use
A) Takings Clause B) Just Compensation Clause C) Double Jeopardy Clause D) Ratification Clause
An insurance policy that covers losses from different types of damage is called a(n) ____________________ policy
Fill in the blank(s) with correct word
Exhibit 4.1The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $)Assets 2018 Cash and securities $3,000 Accounts receivable 15,000 Inventories 18,000 Total current assets $36,000 Net plant and equipment $24,000 Total assets $60,000 Liabilities and Equity Accounts payable $18,630 Accruals 8,370 Notes payable 6,000 Total current liabilities $33,000 Long-term bonds $9,000 Total liabilities $42,000 Common stock $5,040 Retained earnings 12,960 Total common equity $18,000 Total liabilities and equity $60,000 Income Statement (Millions of
$)2018Net sales $84,000 Operating costs except depreciation78,120 Depreciation 1,680 Earnings before interest and taxes (EBIT)$4,200 Less interest 900 Earnings before taxes (EBT) $3,300 Taxes 1,320 Net income $1,980 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of $) $693.00 Int rate on notes payable & L-T bonds6% Federal plus state income tax rate40% Year-end stock price $47.52 ? Refer to Exhibit 4.1. What is the firm's current ratio? Do not round your intermediate calculations. A. 0.87 B. 0.85 C. 1.23 D. 1.09 E. 1.17