The triple bottom line measures:

A) Measures a company's economic, social and environmental performance.
B) Measures a company's performance within its three financial statements.
C) Measures a company's performance within the primary, secondary and tertiary markets.
D) Measures a company's performance of its revenues, gross profit and net income against its annual strategic plan.
E) Measures a company's performance against the top three competitors in the market.

Baker Company is considering an investment in a new metal lathe. If the new lathe is purchased, revenues will increase by $5,000 per year and cash operating costs will decline by $10,000 per year. The lathe will cost $60,000 and will be depreciated on a straight-line basis over 10 years to a zero estimated salvage value. Baker's marginal tax rate is 40%. Determine the annual net cash flows generated by the lathe.

A) $11,400
B) $9,000
C) $600
D) $5,400

Erik and Elsa own a pet grooming business. Erik manages the financial responsibilities while Elsa manages the customers. This is an example of a ___.

A) sole proprietorship
B) general partnership
C) corporation
D) limited liability partnership
E) limited liability corporation

A company purchased land with a building for a total cost of $2,570,000 ($500,000 paid in cash and the balance on a long-term note). It was estimated that the land and building had market values of $900,000 and $2,100,000, respectively.
Determine the cost to be apportioned to the land and to the building and prepare the journal entry to record the acquisition.

A[n] ________ is when money is transferred by an electronic terminal, telephone, or computer.

A) Automatic fund transfer
B) Electronic fund transfer
C) Computer generated transfer
D) Wire transfer
E) Consumer electronic transfer

State Industries has the following information for 20X1:
There are no beginning inventories.Prepare an income statement for the year under absorption costing.