Return on equity is the ratio of net profit (income) to owners' equity.
Answer the following statement true (T) or false (F)
True
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The auditor gathers audit evidence to test management's assertions.
Answer the following statement true (T) or false (F)
A favorable sales volume variance in sales revenue suggests a(n) ________.
A) increase in actual sales price per unit as compared to budgeted sales price B) increase in number of actual units sold when compared to the expected number of units sold C) increase in actual variable cost per unit as compared to expected variable cost per unit D) decrease in actual fixed costs
Of a company's employees, 50 percent typically qualify to receive two weeks' paid vacation a year (50 weeks). The entry to record the estimated liability for vacation pay for a week in which the total payroll is $8,800 would be
A) Estimated Liability for Vacation Pay 352Cash 352 B) Vacation Pay Expense 704 Cash 704 C) Vacation Pay Expense 176 Estimated Liability for Vacation Pay 176 D) Cash 88 Estimated Liability for Vacation Pay 88
Which of the following cost elements associated with replacing employees who leave an organization includes functions ranging from determining if replacements are needed to reaching final hiring decisions?
A. Communicating job availability B. Entrance interview C. Testing D. Staff meetings