Working capital is considered to be one of the prime indicators of liquidity
Indicate whether the statement is true or false
T
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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
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.
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.
The legal effect of a usurious loan varies from state to state
a. True b. False Indicate whether the statement is true or false