Assume the current ratio is 3 to 4 . Purchases of inventory on account would cause the current ratio to
a. increase
b. decrease
c. be unchanged since the effects offset each other
d. be unchanged since it has no effects on any current accounts
a
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Answer the following statements true (T) or false (F)
1. In a limited liability partnership, each partner is not personally liable for the malpractice or negligence committed by another partner. 2. The income of a limited liability company cannot be taxed to the members as though they were partners. 3. An S corporation is a corporation with 100 or fewer stockholders that can elect to be taxed as a partnership. 4. If elected, an S corporation pays no corporate income tax.
In line balancing, the desired cycle time (C) is given by ______.
A. (daily production time available)/(units to be produced daily) B. (daily production time available)/(number of workstations available) C. (units to be produced daily)/(daily production time available) D. (total time used)/(units to be produced daily)
The following events apply to Jason's Lawn Service for Year 1.1) Issued stock for $14,000 cash2) On January 1, paid $12,000 cash for equipment that has an estimated life of five years and a salvage value of $2,0003) On May 1, issued a $3,000, 5% 3-year note to a local bank4) Performed services of $18,400 and received cash5) Paid $15,000 of operating expenses6a) Adjusted the records to recognize expense associated with use of the equipment during Year 16b) Adjusted the records to recognize interest expense for Year 1Required: Record the effects of the above events under the appropriate account headings in the accounting formula below. 
What will be an ideal response?
It's best to have an ARM with the longest adjustment interval available
Indicate whether this statement is true or false.