Res ipsa loquitur means "the thing speaks for itself."
Answer the following statement true (T) or false (F)
True
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If a contract can be carried out within one year, it need not be in writing
Indicate whether the statement is true or false
There are four types of illegal activity under Title VII of the Civil Rights Act of 1964. Which of the following is NOT one of them?
A)Disparate treatment B)Retaliation C)Unattactiveness discrimination D)Hostile environment
As a financial manager, you decide to borrow funds in order to meet payroll. Your company will pay back the funds within nine months. You are seeking ________ financing
A) long-term B) short-term C) retained earnings D) equity E) capital
Macmillan Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$156,000 $120,000 Accounts receivable, net 268,000 280,000 Inventory 146,000 130,000 Prepaid expenses 20,000 20,000 Total current assets 590,000 550,000 Plant and equipment, net 732,000 760,000 Total assets$ 1,322,000 $ 1,310,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$175,000 $180,000 Accrued liabilities 46,000 50,000 Notes payable, short term 80,000 80,000 Total current liabilities 301,000 310,000 Bonds payable 190,000 190,000 Total liabilities 491,000 500,000 Stockholders' equity: Common
stock, $5 par value 450,000 450,000 Additional paid-in capital 70,000 70,000 Retained earnings 311,000 290,000 Total stockholders' equity 831,000 810,000 Total liabilities & stockholders' equity$ 1,322,000 $ 1,310,000 Income Statement-Year 2For the Year Ended December 31, Year 2Sales (all on account)$1,390,000 Cost of goods sold 830,000 Gross margin 560,000 Operating expenses 500,615 Net operating income 59,385 Interest expense 16,000 Net income before taxes 43,385 Income taxes (35%) 15,185 Net income$ 28,200 Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share.The company's working capital at the end of Year 2 is: A. $590,000 B. $289,000 C. $732,000 D. $831,000