In the financial crisis in 2008 and 2009, ________ banks with a total of $3.2 trillion in assets were rescued by the FDIC using the assistance method.
A. 1,300
B. 130
C. 13
D. 2
Answer: C
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Frisco Recreational Vehicles recently instituted cross-functional teams to develop new products. Team members are spread across the country, so it is expensive and time consuming for people to travel to headquarters to meet. The company would benefit most from a change in ______ involving
A. technology; teams meeting "virtually" through electronic media. B. structure; disbanding the teams and relying on individuals to develop products. C. culture; sending team members to conflict management courses. D. people; hiring new people in the organization at the headquarters location. E. strategy; dropping the strategy of developing new products.
[APPENDIX] Deferred tax is an amount that reconciles the differences between the income for financial purposes with the income reported for tax purposes. In most cases, it is a long-term liability
a. True b. False Indicate whether the statement is true or false
On October 1, Vista View Company rented warehouse space to a tenant for $3900 per month. The tenant paid five months' rent in advance on that date, with the lease beginning immediately. The cash receipt was credited to the Unearned Rent account. The company's annual accounting period ends on December 31. The adjusting entry needed on December 31 is:
A. Debit Rent Receivable, $11,700; credit Rent Earned, $11,700. B. Debit Unearned Rent, $7800; credit Rent Earned, $7800. C. Debit Rent Receivable, $19,500; credit Rent Earned, $19,500. D. Debit Unearned Rent, $19,500; credit Rent Earned, $19,500. E. Debit Unearned Rent, $11,700; credit Rent Earned, $11,700.
Return on net worth equals return on assets times financial leverage
Indicate whether the statement is true or false