An electrical energy charge (the amount the user must pay for electricity) is based on:
a. a calculated estimate of the amount of electricity used, derived from previous years' usage
b. square footage of the facility
c. the actual metered amount of electricity used by a customer
d. a flat per-month rate plus a negotiated amount for usage above and beyond that covered by the flat rate
Ans: c. the actual metered amount of electricity used by a customer
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The degree to which a test measures the same thing consistently is known as its
A. legality. B. reliability. C. validity. D. significance. E. dependability.
Finch Corporation purchased an asset costing $12,000. Annual operating cash inflows generated from the asset are expected to be $2,168 each year for eight years. No salvage value is expected at the end of the asset's life. Using time value of money tables, which of the following rates is closest to the internal rate of return on the project?
A) 8% B) 9% C) 10% D) 16%
Ogilvie Corp. issued 22,000 shares of no-par stock for $20 per share. Ogilvie was authorized to issue 45,000 shares. What effect will this event have on the elements of the company's financial statements?
A. Increase assets and increase stockholders' equity by $900,000 B. Increase cash inflows from investing activities by $440,000 C. Increase assets and increase stockholders' equity by $440,000 D. None of these answer choices are correct.
Corbin, a partner in Doctors Medical Clinic, applies for a loan with Evermore Bank allegedly on Doctors' behalf but without the authorization of the other partners. Evermore knows that Corbin is not authorized to take out the loan. Corbin defaults on the loan. Liability for its unpaid amount is imposed on
a. Corbin and Doctors, jointly. b. Corbin only. c. Doctors only. d. Evermore only.