Short-term, self-liquidating loans are intended to ________
A) provide one-time loan to the borrower who needs funds for a specific purpose
B) cover seasonal peaks in financing caused by inventory and receivable buildups
C) provide maximum amount to the firm that it can owe to the bank
D) recapitalize the firm
B
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If a foreign company is taken over by the host country government, and some form of compensation is paid, "expropriation" has occurred
Indicate whether the statement is true or false
Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget. Sentra's policy is to maintain an ending inventory balance equal to 15% of the following month's cost of goods sold. January's budgeted cost of goods sold is $70,000. October November December Budgeted cost of goods sold60,000 40,000 50,000 Plus: Desired ending inventory6,000 ? ? Inventory needed66,000 ? ? Less: Beginning inventory9,000 ? ? Required purchase (on account)57,000 ? ? What would be the required purchases (on account) for December?
A. $53,000 B. $47,000 C. $50,000 D. $60,500
The profit-and-loss-sharing ratio among Simonsen, Paulson, and Richardson is 1:3:2, in the order given. Paulson is retiring from the partnership on December 31, 2018. Paulson's capital account is settled at book value. Which of the following journal entries would the firm record for Paulson's withdrawal?
Simonsen, Paulson, and Richardson are partners in a firm with the following capital account
balances:
Joya works as a middle manager at a company in a state that has recently passed “Ban the Box” legislation. When she is hiring for a new customer relations position, which of the following can she not ask of applicants on the initial application form because of this legislation?
a. Do you have a criminal record? b. Do you have a drug or alcohol problem? c. Have you ever been fired from a job before? d. Are you committed to charitable giving?