The current ratio excludes
A. accrued interest.
B. inventory.
C. cash equivalents.
D. retained earnings.
Answer: D
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In an effort to improve the conceptual framework, the FASB, in conjunction with the IASB has been moving towards more __________ standards
a. rules approach b. principles approach c. broad approach d. international approach
The transfer of the right to use real property for a specified period of time is known as a lease
Indicate whether the statement is true or false
A marriage partner of a spouse with earned income and without a qualified retirement plan
A) may not have a spousal IRA unless he or she also has earned a minimal wage. B) may have a spousal IRA even if she or he had no earned income. C) may have a spousal IRA only if the market worker contributed less than $2,000 to his or her IRA. D) may not have an IRA if the working spouse already has one.
A country's income distribution is important because it gives a more reliable picture of a country's ________.
A. purchasing power B. consumer tastes C. discretionary income D. cost of living E. taxable income