A small business decides to upgrade its aging phone system. the business will probably place a straight rebuy order.

a. True

b. False

June owned 50 shares of a stock that was actively traded on a national stock exchange. June wanted to sell the shares but felt that her profit would be seriously diminished by selling through a broker and paying the customary brokerage commission.

Which of the following statements about the expected postretirement benefit obligation (EPBO) is not correct? a. The EPBO is recorded in the accounts. b. The EPBO is used in measuring periodic expense. c. The EPBO is an actuarial present value. d.

Warranty liability may bind parties who only present instruments for payment. a. True b. False

Which of the following statements is NOT true? A. Demand for items is dependent when the relationship between the items can be determined. B. Less inventory frees up capital and floor space for other uses. C.

Edelman Engines has $11 billion in total assets. Its balance sheet shows $1.1 billion in current liabilities, $7.7 billion in long-term debt, and $2.2 billion in common equity.

Digby has a roe of 0.24 (roe = net income/equity). that means:

If a bank depositor withdraws $1000 of currency from an account, what happens to bank reserves, checkable deposits, and the monetary base? Assume that the required reserve ratio on checkable deposits is 10% and banks do not hold any excess reserves.

During the Great Depression, consumer spending was higher than ever in history. Question 10 options: True False

A property is being appraised by the cost approach. The appraiser estimates that the land is worth $17,000 and the replacement cost of the improvements is $235,000. Total depreciation from all causes is $23,000.

NorthWest Corp. obtained the following information from its accounting records: Sales $70,000 Beginning Finished Goods Inventory $10,000 Ending Finished Goods Inventory $46,000 Cost of Goods Sold $22,000 Ending Work-in-Process Inventory $30,000