Blog

A company has the following information on its income statement. Calculate Cost of Good Sold (COGS). Net Sales: $1,071,300 Beginning Inventory: 138,000 Ending Inventory: 155,200 Net Purchases during the period: 642,100 For accurate grading, state your answer in this format: $XXX,XXX

As a bank loan officer, you are considering a loan application from a local business. The company has provided you with its income statement and balance sheet. The two statements contain the following information: Current assets: $25,000 in cash, $45,000 in accounts receivable, and $140,000 in inventory Fixed assets: $190,000 Current liabilities: $70,000 Long-term liabilities: $90,000 Calculate the company’s current ratio.

Which theory of motivation states that money is the sole motivator for people at work?

Assume a family has replacement cost coverage on their homeowner’s policy. What would it cost an insurance company to replace a family’s personal property that originally cost $25,000 if the items have increased in price by 15% and the policy has a $1,000 deductible?

Two people are both charged $250 for an office visit to the same specialist. The first person’s policy has a deductible of $300. Once they have met the deductible, the policy will cover the full cost of visits. They have not paid any money toward their deductible yet this year. The second person’s  policy will reimburse them $150, the maximum amount the plan provides for a visit to any specialist. Which of the following is correct?

Most home insurance policies do not cover the full cost to replace stolen jewelry unless items are covered with additional insurance.

A home buyer paid extra money to reduce their mortgage interest rate. This is called:

Once the borrower’s equity in the home reaches above 20%, PMI can typically be canceled.

Which of the following is an advantage of leasing a car rather than buying the car?

Which of the following is an income replacement insurance plan, rather than a medical payments plan?