Transactions in the futures markets involve current payments for goods which will be delivered at
some future agreed upon date.
Indicate whether the statement is true or false
FALSE
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The premium on bonds payable account would be classified as a(n)
a. current liability. b. adjunct-liability. c. contra-liability. d. noncurrent liability.
Sam expressed interest in buying a painting from Jasper, whose asking price was $15,000. Sam was only willing to offer $13,000. Jasper told him that it was a very old painting worth a fortune and that others would gladly pay $20,000 for it. Sam decided to buy the painting for $15,000 on the condition that if he found that the painting was worth less than $15,000, Jasper would have to take the painting back and refund Sam. Which of the following warranties did this sales contract have?
A. an implied warranty of merchantability B. an express warranty C. a statement of opinion D. an implied warranty of fitness
Since the ROA measures the firm's effective utilization of assets without considering how these assets are financed, two firms with the same EBIT must have the same ROA.
Answer the following statement true (T) or false (F)
The percent of sales method does not provide a reasonable prediction of asset levels for instances
when there are economies of scale in the use of the asset being forecast and when asset purchases are lumpy. Indicate whether the statement is true or false