Inventory you intend to sell within the next month is a good example of a(n)
a. Long-term asset
b. Current assent
c. A positive variance
d. Owner's equity
Ans: b. Current assent
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Following catastrophic hurricane losses, South Coast Insurance Company changed its deductible provision
Rather than using a specified dollar value, $250 for example; the dollar value of the deductible increases with the size of the loss. The type of deductible that South Coast changed to is called a(n) A) calendar-year deductible. B) aggregate deductible. C) straight deductible. D) percentage deductible.
The price/earnings ratio:
A) Is calculated by multiplying the market price of a stock by its earnings per share. B) Is found by dividing the market price of a stock by the firm's total earnings. C) Is computed by dividing the book value of a stock by the firm's EPS. D) Is calculated by adding the market price of a stock to the firm's EPS. E) Is found by dividing the market price of a stock by the firm's EPS.