What type of pricing objective would an organization use if it were in a favorable position and desired nothing more?
A. Return on investment
B. Cash flow
C. Profit
D. Status quo
E. Survival
Answer: D
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How is a contingent liability reported if it is considered 'reasonably possible'?
a. the liability may or may not be recorded in the footnotes to financial statements b. the contingent liability should be disclosed in the footnotes to the financial statements c. the liability should be disclosed in the footnotes as well as on the face of the financial statements. d. no mention of the liability needs to be made in the financial statements
Using the information below, calculate net income for the period: Sales revenues for the period$1,304,000 Operating expenses for the period 239,000 Finished Goods Inventory, January 1 36,000 Finished Goods Inventory, December 31 41,000 Cost of goods manufactured for the period 540,000
A. $530,000. B. $774,000. C. $448,000. D. $769,000. E. $535,000.
Kenton borrows $150,000 from Liberty Home Finance Corporation to buy a home. Federal law concerns primarily
A. borrowers' ability to avoid clear terms in financing documents when the effect may be harsh. B. how many loans a specific lender can make. C. the highest prices for which real property can be sold. D. what must be disclosed with respect to a mortgage.
Falling objects is a named peril for coverage of personal property in a HO-3 policy
Indicate whether the statement is true or false