Refer to Figure 9-5. Producer surplus in this market before trade is

A) C.
B) B + C.
C) A + B + D.
D) B + C + D.

Assignable causes

A) are not as important as natural causes.
B) are within the limits of a control chart.
C) depend on the inspector assigned to the job.
D) are also referred to as "chance" causes.
E) are causes of variation that can be identified and investigated.

What ratio will definitely increase when a firm increases its annual sales with no corresponding increase in assets?

A) asset turnover
B) current ratio
C) liquidity ratio
D) quick ratio

During periods of increasing costs, the use of the FIFO method of costing inventory will result in a greater amount of net income than would result from the use of the LIFO cost method.

When the perpetual inventory system is used, the inventory sold is debited to

A) Supplies Expense
B) Cost of Goods Sold
C) Inventory
D) Sales

When preparing the operating activities section of the statement of cash flows using the indirect method,decreases in current liabilities are subtracted from net income.