Compliance with provisions of the Affordable Care Act is voluntary, as the provisions are suggested best practices.

On July 1, 2016, Sharon Equipment Dealer issued $590,000 of 6% bonds payable that mature in seven years. These bonds were issued at face value and pay interest each June 30 and December 31. Each semiannual interest payment will be higher than the amount of cash paid to the bondholders.

Indicate whether the statement is true or false

Which of the following could affect(s) the fixed asset turnover ratio?

a. Firms often invest in fixed assets several periods before these assets generate sales from products manufactured in their plants or sold in their stores. b. A low or decreasing rate of fixed asset turnover may indicate expanding firms preparing for future growth. c. Firms anticipating a decline in product sales could cut back expenditures on fixed assets and increase the fixed asset turnover ratio. d. All of the above. e. None of the above.