Question 3: This business pays income taxes on the sale of its products each year

The Answers:

1. Income

2: Sales

3: Property

4: Excise

Irene wants to start a business selling t-shirts. irene's top priority is that she alone has complete control over management decisions at all times. irene should most likely form a: a. corporation. b. partnership. c. limited liability company.

National Bank has the following balance sheet (in millions) and has no off-balance-sheet activities: Assets Liabilities Cash $20 Deposits $980 Treasury bills 40 Subordinated debentures 40 Residential mortgages 600 Common stock 40 Business loans (BB

Foreign households and businesses buy from our domestic product and factor markets. From our perspective this describes * A.) exchange rate B.) imports C.) trading bloc D.) import quota E.) exports

Which of the following accounts follows the rules of debit and credit in relation to increases and decreases in the opposite manner?

Market value ratios: a. measure the amount of debt the firm uses. b. measure how effectively a firm is managing its assets. d. show the relationship of a firms cash and other current assets to its current liabilities. d.

Suppose that the inverse demand equation is p = 100 minus 2Q and the supply equation is p = 2Q. If the price is controlled at $60 , this is a price floor.

Steelcase Inc. is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it assembles filing cabinets in an Assembly Department.

On October 1, Sam's Painting Service borrows $150,000 from National Bank on a 3-month, $150,000, 4% note.

Papa Bear Corporation's unadjusted trial balance includes the following balances (assume normal balances) : Accounts Receivable $1,119,000Allowances for Doubtful Accounts $ 21,300Bad debts are estimated to be 6% of outstanding receivables.

In which of the following circumstances are competitive pressures associated with the bargaining power of buyers relatively moderate-to-weak? The supply of soccer balls increases during the World Cup season.