A business that requires all cash payments be made by check can notuse a petty cash system.
a. True
b. False
Indicate whether the statement is true or false
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Q. 2) On January 1, 2010, We Haul, Inc. bought a 48,000 truck, which has no residual value and an expected life of 6 years. What is the book value of the truck at December 31, 2010?
A) 48,000
B) 8,000
C) 24,000
D) 40,000
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Q. 3) Sending out an e-mail pretending to be a legitimate business asking for information about a person's account is called:
a. dumpster diving
b. phishing
c. smoozing
d. shoulder surfing
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Q. 4) Employers are required to file an annual report of federal unemployment tax using ____________________.
Fill in the blank(s) with correct word
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Q. 5) The owners of common stock do NOT have the specific right to ________.
A) vote for members of the board of directors
B) share in the corporation's earnings
C) share in any assets left when a company declares bankruptcy
D) receive dividends before preferred shareholders
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Q. 6) Maxine's Equipment Company had 400,000 in total assets, 275,000 in total liabilities, and 125,000 in shareholders' equity. Interest expense for the period was 15,050. Income from operations was 80,000. Calculate the debt-to-equity ratio.
Round your answer to the nearest percentage.
What will be an ideal response?
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