When formulating a Business Succession Plan, the owner should determine several things
Which of the following is NOT considered?
A) Should the business be sold to pay inheritance taxes?
B) Should ownership be held by family members only?
C) Does the owner want the business ownership to pass directly to the heirs or in trust?
D) Are the owner and the spouse on the same page with respect to continuing the business?
A
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A firm has a current ratio of 1; in order to improve its liquidity ratios, this firm might ________
A) improve its collection practices by providing extended credit policy B) improve its collection practices and pay accounts payable, thereby decreasing current liabilities and decreasing the current and quick ratios C) decrease current liabilities by utilizing more long-term debt, thereby increasing the current and quick ratios D) increase inventory, thereby increasing current assets and the current and quick ratios
Data is composed of ________
A) facts B) numbers C) information D) Both A and B are correct