In the 21st century, the power of public relations is no longer as great as it used to be
Indicate whether the statement is true or false
FALSE
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Which of the following statements is CORRECT, assuming positive interest rates and holding other things constant?
A. Banks A and B offer the same nominal annual rate of interest, but A pays interest quarterly and B pays semiannually. Deposits in Bank B will provide the higher future value if you leave your funds on deposit. B. The present value of a 5-year, $250 annuity due will be lower than the PV of a similar ordinary annuity. C. A 30-year, $150,000 amortized mortgage will have larger monthly payments than an otherwise similar 20-year mortgage. D. A bank loan's nominal interest rate will always be equal to or less than its effective annual rate. E. If an investment pays 10% interest, compounded annually, its effective annual rate will be less than 10%.
The following information was taken from the segmented income statement of Restin, Inc., and the company's three divisions: Restin, Inc.Los Angeles DivisionBay Area Division Central Valley DivisionRevenues$750,000 $200,000 $235,000 $325,000 Variable operating expenses 410,000 110,000 120,000 180,000 Controllable fixed expenses 120,000 65,000 75,000 70,000 Noncontrollable fixed expenses 60,000 15,000 20,000 25,000 In addition, the company incurred common fixed costs of $18,000.Assuming use of a responsibility accounting system, which of the following amounts should be used to evaluate the performance of the Los Angeles division manager?
A. $10,000. B. $25,000. C. $8,000. D. $4,000. E. $90,000.
Which statement in the conceptual framework is concerned with the objectives of business financial reporting? Note that SFAC 8 replaces this SFAC.
a. SFAC No. 1 b. SFAC No. 2 c. SFAC No. 3 d. SFAC No. 5
Bob Hill’s hourly rate is $25.00, and he worked 38 hours during the week. What is his gross pay for the week?
A) $1,230 B) $890 C) $1,300 D) $950