Which of the following is a disadvantage when a business accepts credit cards or debit cards from customers?
A) The business bears the responsibility of collecting cash from the customer.
B) The business bears the risk of nonpayment by the customer.
C) The business pays a processing fee.
D) The business checks customers' credit ratings.
C
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Durable Ceramics, Inc., provides inexpensive ceramic tile to builders of institutional buildings such as schools, prisons, and public administration buildings. It has always competed on a cost leadership basis. Most of its products are purchased by a few commercial construction firms, so it is fairly dependent on these construction firms for selling its product. Durable Ceramics' next-most-efficient competitor, Cost-Less Ceramics, Inc., earns average returns, whereas Durable earns above-average returns. The commercial construction firms are putting pressure on Durable to reduce its prices. If Durable reduces its prices below those of Cost-Less's prices, it is likely that:
A. both Durable and Cost-Less will devise additional ways to become more efficient in their production processes. B. Durable will be unable to absorb the lower cost and will go out of business. C. both Cost-Less and Durable will go out of business, leaving the customers with fewer alternative sources of low-cost tile. D. Cost-Less will go out of business, and Durable will gain higher power over its customers.
Alfredo Inc. reports net income of $230,000 for the year ended December 31. It also reports $87,700 depreciation expense and a $5,000 gain on the sale of equipment. Its comparative balance sheet reveals a $35,500 decrease in accounts receivable, a $15,750 increase in accounts payable, and a $12,500 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.
A. $356,450. B. $319,950. C. $351,450. D. $376,450. E. $263,750.
Corporations and persons applying for more than $25,000 in credit (except for buying a home) are not covered by the Truth-in-Lending Act of 1969
Indicate whether the statement is true or false
Section 529 plans
A) have tax free withdrawals if the money is used to buy a first home. B) include prepaid tuition plans only. C) have withdrawals that are taxed. D) have tax free withdrawals if the money is used for qualified expenses.