Two examples of implied trusts are constructive trusts and _____ trusts.

The business risk of a particular company is most accurately measured by the company's:

a. debt-to-equity ratio. b. efficiency in using assets to generate sales. c. operating leverage and level of uncertainty about demand, output prices, and competition.

The Merchandise Inventory account of a company shows a balance of $70,000 but a physical count of inventory shows $67,000 Which of the following entries is required to record the shrinkage? (Assume a perpetual inventory system.)

A) Cost of Goods Sold 3,000 Shrinkage Expense 3,000 B) Merchandise Inventory 3,000 Cost of Goods Sold 3,000 C) Cost of Goods Sold 3,000 Merchandise Inventory 3,000 D) Cash 3,000 Merchandise Inventory 3,000