Current liabilities would include all of the following except

A) wages payable
B) obligations under capital lease contracts
C) current portion of long-term debt
D) unearned rent revenue

What happens in a perfectly competitive industry when economic profit is greater than zero?

A) Existing firms may get larger.
B) New firms may enter the industry.
C) Firms may move along their LRAC curves to new outputs.
D) There may be pressure on prices to fall.
E) All of the above may occur.

A person who intends to commit suicide is LEAST likely to

A) appear unusually optimistic.
B) exhibit a change in eating habits.
C) be unable to let go of grief from a recent loss.
D) make direct statements about committing suicide.

A company used straight-line depreciation for an item of equipment that cost $12,000,had a salvage value of $2,000 and a five-year useful life.After depreciating the asset for three complete years,the salvage value was reduced to $1,200 but its total useful life remained the same.Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life:

A) $1,000
B) $1,800
C) $5,400
D) $2,400
E) $2,000

The analysis of increases and decreases in the amount and percentage of comparative financial statement items is referred to as horizontal analysis.