If a firm expects short-term cash surpluses, it can plan ________.
A) long-term investments
B) short-term borrowing
C) short-term investments
D) leverage decisions
C) short-term investments
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Which of the following statements is true regarding common law?
a. In common law countries, there are generally more statutes written into the laws. b. In common law countries, there is less reliance on interpretation by the courts. c. Because more details are written into U.S. law, FASB has shorter and more general accounting standards than most countries. d. The common law system has its roots in the United Kingdom.
Masters Company borrowed on a one-year, 10%, $150,000 note on May 1, with interest and principal to be paid at maturity. How much interest payable will be reported on Masters' balance sheet as of November 30 of the same year?
a. $ 7,500 b. $ 8,750 c. $ 15,000 d. $ 30,000
Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make application easier
Which of the following is a core customer value for Silkskin's line of eye makeup? A) the natural ingredients B) the Silkskin brand C) the products' revolutionary packaging D) the hypoallergenic properties of the products E) the desire for having beautiful eyes
A change in the estimated useful life of a building
a. is not allowed by generally accepted accounting principles. b. affects the depreciation on the building beginning with the year of the change. c. must be handled as a retroactive adjustment to all accounts affected, back to the year of the acquisition of the building. d. creates a new account to be recognized on the income statement reflecting the difference in net income up to the beginning of the year of the change.