Mercantile Corporation has sales of $2,000,000, variable costs of $800,000, and fixed costs of $900,000. Mercantile’s degree of operating leverage is
a. 1.33
b. 1.67
c. 1.50
d. 4.00
Answer: d. 4.00
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Which of the following accounts is not closed to Income Summary at the end of the accounting period?
a. Rent Expense b. Service Revenue c. Unearned Revenue d. Supplies Expense
Merchandise cannot generally be examined by consumers in which retail formats?
a. membership clubs and flea markets b. direct selling and specialty stores c. direct marketing and vending machines d. retail catalog showrooms and membership clubs
Fact Pattern 37-1BBrad, Carlos, and Dora are general partners in Eastside Physicians, a medical clinic. Their agreement states it is a breach of the agreement for any partner to assign his or her interest to a creditor without the consent of the other partners.Refer to Fact Pattern 37-1B. Carlos's assignment of his interest in Eastside to General Credit Corporation results in
A. nothing with respect to Carlos or Eastside. B. the automatic termination of Eastside's legal existence. C. Carlos's liability for all of Eastside's debts. D. Carlos's wrongful dissociation and liability for any damages.
The ________ mandated that new hires must be reported within ________ days to state authorities.
A) Fair Labor Standards Act; 30 B) Immigration Reform and Control Act; 20 C) Civil Rights Act; 25 D) Davis-Bacon Act; 28