What is the type of account and normal balance of Allowance for Doubtful Accounts?

A) contra asset, credit
B) asset, debit
C) asset, credit
D) contra asset, debit

MD Groceries currently sets its initial cash balance at $5,000, which is depleted every four days. The current market rate of return is 4.5% per year. The firm pays $2.50 each time it replenishes its cash account. Use a 360-day year. What is the optimal initial cash balance for MD using the BAT model?

A) $5,127
B) $5,449
C) $7,071
D) $7,968
E) $8,937

Economic immigrants

A) are defined as any international migrants that have an impact on the economy.
B) are defined as international migrants motivated by economic gain.
C) only affect the economy if they enter the country legally.
D) include not only people, but also any capital that migrates from another country.

Basic earnings per share (EPS)is always computed by dividing net income by the weighted average number of common shares of stock outstanding.

Lead time for one of West Manufacturing's fastest moving products is 7 days. Demand during this period averages 80 units per day. What would be an appropriate re-order point?

Leverage is the use of equity financing.

Korbin asked Karen to marry him and gave her a 1 carat diamond engagement ring. Three months later, Karen broke the engagement because she decided she was not ready for marriage. According to most courts, Korbin may:

A) not recover the ring because it was a gift.
B) recover the ring because he did not break the engagement and the gift was conditional.
C) not recover the ring even if the marriage does not take place because gifts cannot be conditional.
D) recover the ring and sue for damages.