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horrorfan [7]
3 years ago
5

True or false: Merchandise inventory is generally converted to cash more quickly than accounts receivable.

Business
1 answer:
Makovka662 [10]3 years ago
3 0

Answer:

False

Explanation:

Merchandise inventory is the stock that company have to kept in its godown while the account receivable is that when company sold the goods on credit basis to the customer

So here the company could received the payment within 12 months it can be in within month also

So the given statement is false

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The gross increases in retained earnings attributable to business activities are called
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They are called revenues.
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3 years ago
The 2008 balance sheet of Maria's Tennis Shop, Inc., showed long-term debt of $2.25 million, and the 2009 balance sheet showed l
Svet_ta [14]

Answer:

net cash flow from creditors of $1.42 million

Explanation:

The movement in the long term debt account between 2008 and 2009 is as a result of the interest owed on the debt and the cash payment for the period.

Let the cash outflow to the creditor be H

$2.25 million + 0.33 million - H = $4 million

H = $2.25 million + 0.33 million - $4 million

H = ($1.42 million)

This means that the firm had a net cash flow from creditors of $1.42 million in 2019.

5 0
3 years ago
On January 1, the company purchased equipment that cost $10,000. The equipment is expected to be worth about (or has a salvage v
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Answer:

See below

Explanation:

10000-1000=9000 to be depreciated

9000/5=1800 annual depreciation

journal entry:

depreciation expense.     1800 (debit)

  Accumulated depreciation.   1800 (credit)

to record annual depreciation

5 0
2 years ago
The government has granted a patent to a pharmaceutical company for an experimental AIDS drug. That company is the only firm per
morpeh [17]
<span>The question refers to whether that scenario describes a competitive market, and the answer is - no. This scenario that you have presented us with is not an example of a competitive market because there is no free entry. Because firms cannot freely enter this market, this cannot be said to be competitive, because there are no companies to compete if there is only one firm involved. </span>
4 0
3 years ago
Read 2 more answers
A Municipal Finance Professional (MFP) lives in State A. The MFP gives $200 to the election campaign of a personal friend who is
Darya [45]

Answer:

B The payment will not result in the employing firm being banned from doing municipal securities business with State B because it was made based on a personal relationship.

Explanation:

The rule of de minimis applies to persons making donations to candidates vying for elective positions.  $250 de minimis is applicable to a person who will vote for a candidate in an election.  If a person will not vote for the candidate, the de minimis is $150.

In this case, the MFP will not be voting for the candidate.  She is allowed to donate only $150.  Any excess will be refunded.  However, since the MFP is making the donation on his personal capacity, the firm as a separate entity will not be penalized for what the MFP does with her money.  It is likely that the firm does not even do contracts with the municipality.  However, they are not based in the same area.

8 0
3 years ago
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