A higher rate of investment now will generate Multiple Choice more future inflation. more future production. more current consumption. more saving now.

Considered alone, which of the following would increase a company's current ratio? a. an increase in net fixed assets. b. an increase in accrued liabilities. c. an increase in notes payable. d. an increase in accounts receivable. e. an increase in accounts payable.

Which of the following best describes the advantage of living in a suburban area? a. suburbs give people access to city jobs along with more living space. b. suburbs give people easy access to cultural attractions and high-paying jobs. c. suburbs have the widest availability of low-cost housing of any living area. d. suburbs have the lowest population density of any living area.

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?