Trade secrets are an example of which general category of intangible asset that should be recognized separately according to current generally accepted accounting principles?

The clause in a blanket mortgage that allows individual parcels to be released from the lien as the balance is paid down is called a

A) pay down clause B) acceleration clause C) partial release clause D) partial reconveyance clause

When comparing inventory turnover ratios, other things being equal,

A) higher inventory turnover results from old or obsolete inventory increasing the inventory balance on the balance sheet. B) a higher inventory turnover is preferred to improve liquidity. C) higher inventory turnover results from an increase in the selling price of the product. D) a lower inventory turnover is preferred in order to keep inventory costs low.