Working capital is considered to be one of the prime indicators of liquidity

Indicate whether the statement is true or false


T

Business

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Which of the following is not a reason why a company first prepares a worksheet?

A) simplify recording of adjusting and closing entries in the general journal B) substitute for the trial balance C) make it easier to prepare financial statements D) minimize errors

Business

Which of the following is not true regarding comprehensive income?

a. Comprehensive income includes foreign currency translation adjustments. b. Comprehensive income includes unrealized holding gains and losses on available-for-sale securities. c. Comprehensive income includes minimum pension liability adjustments previously classified as intangible assets. d. Earnings per share should be calculated for comprehensive income.

Business

The materials usage variance is calculated by the equation

A) (Standard Price x Actual Quantity) - (Standard Price x Standard Quantity). B) (Standard Price x Standard Quality) - (Standard Price x Actual Quantity). C) (Actual Price x Actual Quantity) - (Standard Price x Actual Quantity). D) (Actual Price x Standard Quantity) - (Actual Quantity x Standard Price). E) None of these.

Business

The legal effect of a usurious loan varies from state to state

a. True b. False Indicate whether the statement is true or false

Business