Which financial statement shows account balances such as, cash held, amounts owed to the company by customers, the cost of raw materials and finished goods inventory?
a. Income statement c. Tolerance group
b. Balance sheet d. Year end report
B
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Which of the following depreciation methods should be used when the expected benefits to be received from an asset will decline each period?
A) straight-line method B) units-of-production method C) sum-of-the-years'-digits method D) compound-interest method
The adjusted trial balance facilitates the preparation of the financial statements
Indicate whether the statement is true or false
A company has fixed costs of $270,000, a unit contribution margin of $14, and a contribution margin ratio of 55%. If the company wants to earn a target $60,000 pretax income, what amount of sales must it make (rounded to the nearest whole dollar)?
A. 381,818. B. 490,909. C. 330,000. D. 600,000. E. 109,090.
Ross studied engineering in college. After graduation, he went to work for an insurance company. Ross visits properties insured by his company
He conducts inspections and makes recommendations about alarm systems, sprinkler systems, and building construction. In what functional area does Ross work? A) underwriting B) loss control C) information systems D) claims adjusting