Smart Solutions Inc. is evaluating a capital project for expansion. The project costs $10,000, and it is expected to generate $5,000 per year for three years. If the firm's required rate of return is 10percent, what is the project's terminal value?
A. $15,000
B. $16,550
C. $11,550
D. $14,050
E. $12,500
Answer: B
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During December, Horn Inc purchased $800 of supplies for use in its business. At the end of December, 20% of the supplies were still on hand, but only 75% had been paid. What amounts will appear on the company's balance sheet on December 31? Supplies on Hand Accounts Payable
a. $800 $600 b. $160 $200 c. $640 $200 d. $160 $800
Closing entries result in the transfer of net income or net loss into the Retained Earnings account
Indicate whether the statement is true or false
Bankruptcy, International Trade, and Tax are all types of:
A) special state courts. B) federal special courts. C) special state standing courts. D) none of the above.
RioFit was recently issued a citation for a violation of OSHA. This is RioFit's first violation, and the company has demonstrated sincere effort to comply with OSHA. It is likely that
A. if this was a willful violation, RioFit will be fined the maximum of $500,000. B. OSHA would adjust RioFit's penalty down from the established standards. C. OSHA will assess a penalty in line with established standards. D. if this was not a willful violation, RioFit will get just a warning.