The liquidity of a company can be measured using the current ratio and the ________, which only includes the most liquid current assets in its calculation.
Fill in the blank(s) with the appropriate word(s).
acid-test ratio
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Journalize the following transaction for a merchandiser that uses the perpetual inventory system. Sold goods to A. Pitt, on account, $2,500 (cost, $1,750). Omit explanations.
What will be an ideal response?
When the total market expands, the dominant firm usually gains the most
Indicate whether the statement is true or false
A personal injury client fell while shopping for groceries, slipping and falling on a puddle of water and ice. The fact that the client was wearing her corrective lenses, glasses, when the accident happened is:
A) a material fact. B) an immaterial fact. C) an immaterial opinion. D) a material opinion.
One of the senior partners in the firm says that he has a niece he thinks would be a good fit for an internship with the firm this summer
The partner, Ronald, says that his niece, Charlotte, is a kid with great potential as a lawyer. However, Ronald believes that a human resource professional such as Bruce should also interview her to help determine his suitability for the firm. As part of the screening, Bruce conducts an Internet search and finds out that a few years ago, Charlotte ran a red light and severely injured a bicycle rider. How should Bruce deal with this situation? A) Go through the motions of interviewing Charlotte, and then report back to Ronald that she appears to have a "teenage brain," but provide no specific explanation. B) Advise Ronald of the Internet search findings, and ask if Charlotte should still be interviewed for the summer internship. C) Not advise Ronald about the findings for fear of irritating and perhaps getting in bad with him. D) Discuss his findings about the vehicular accident with several other people in the office, and ask their opinion on how he should proceed.