The bank often informs the company of bank service charges by including a credit memo with the monthly bankstatement.
a. True
b. False
Indicate whether the statement is true or false
(
Q. 2) The debt-to-equity ratio is calculated by dividing shareholders' equity by total liabilities.
Indicate whether the statement is true or false
(
Q. 3) The periodic inventory system is a record keeping system that involves calculating cost of goods sold only at the end of the period.
Indicate whether the statement is true or false
(
Q. 4) A warehouse supervisor prepares a sales order listing items to be shipped to a customer and then signs it approving the removal of the items from the warehouse. The supervisor is performing which functions?
a. authorizing events and safeguarding of resources
b. executing and recording events
c. authorizing and executing events
d. authorizing and recording events
(
Q. 5) If a company earns more with the money it borrows than it has to pay to borrow that money, it has positive financial leverage.
Indicate whether the statement is true or false
(
Q. 6) Form 941 is a(n)
a. Employee Withholding Allowance Certificate.
b. Employer's Quarterly Federal Tax Return.
c. Wage and Tax Statement.
d. Employer's Annual Federal Unemployment Tax Return.
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