Smartshop's profits have been growing at 5% per year. this year their profits were approximately $500,000. what were their profits last year?

The matching principlea. requires that all credit losses be recorded when an individual customer cannot pay. b. necessitates the recording of an estimated amount for bad debts. c. results in the recording of a known amount for bad debt losses. d.

The evolutionary process that selects variations in inherited characteristics that best suit an individual for survival and reproduction in a particular environment is known as:

Country's ability to produce a good or service at a lower cost per unit than any other country can produce it. T/F

The quality control manager at a computer manufacturing company believes that the mean life of a computer is 80 months, with a standard deviation of 10 months.

The difference between the highest price a consumer is willing to pay for a good or service and the price the consumer actually pays. Consumer surplus measure the net benefit to consumers from participating in a market rather than the total benefit.

The revenue recognition principle dictates that revenue should be recognized in the accounting records: a. when cash is received b. in the period that income taxes are paid c. when it is earned. d. at the end of the month.

Which of the following involves trading partial ownership interests for capital? A) Equity financing B) Debt financing C) Partnership financing D) Corporate financing

Rockingham Motors issued a 30-year, 8 percent semiannual bond 3 years ago. The bond currently sells for 103.1 percent of its face value. The company's tax rate is 34 percent. What is the aftertax cost of debt?

Producer surplus is the area A. under the demand curve and above the price. B. between the supply and demand curves. C. below the price and above the supply curve. D. under the supply curve.

Arthur made a bid at an auction by calling out the amount of $250. The auctioneer acknowledged Arthur's bid. There were no higher bids, and before the fall of the auctioneer's hammer, Arthur announced that he was withdrawing the bid.