Assets are listed in the order of their ________ on the balance sheet

For any given total quantity of units sold, as the sales mix shifts toward units with lower contribution margins, operating income will be:

A) lower. B) higher. C) consistent. D) parallel. E) does not change.

If $1,000,000 of 8% bonds are issued at 103 1/2, the amount of cash received from the sale is

A) $1,080,000 B) $965,000 C) $1,000,000 D) $1,035,000