Question 761
The manager of Liz-Beth Co. is given a 2% bonus based on income before taxes. The net income after taxes is $11,200 if Liz-Beth uses the FIFO method for inventories. The tax rate is 30%. Cost of goods sold would have been $10,000 higher if LIFO is used. How much is the difference in the manager's bonus if LIFO is used instead of FIFO?
Question 762
Northern Company reports income unrealized gains (losses) on its short-term investment portfolio in
Other Comprehensive Income (OCI). Its investment portfolio is classified as:
Other Comprehensive Income (OCI). Its investment portfolio is classified as:
Question 763
Banks are required by law to keep on hand to back up its deposits a minimum reserve of their checking deposits. This reserve is known as:
Question 764
Which condition in general gives industry participants more pricing power?
Question 765
The quantity of real money that people plan to hold depends on these factors:
I). The price level.
II). The nominal interest rate.
III). Real GDP.
IV). Financial innovation.
I). The price level.
II). The nominal interest rate.
III). Real GDP.
IV). Financial innovation.