The marginal cost curve intersects the average variable cost curve at:

A) its lowest point.
B) its maximum.
C) its end point.
D) no point;the curves don't intersect.

Perfectly elastic demand is represented as a horizontal line.

If the book value of an indefinite-lived intangible asset (e.g.,a brand name)exceeds the fair value,then the asset is considered impaired.

On January 1,2019,Mission Company agreed to buy some equipment from Anna Company.Mission Company signed a non-interest-bearing note,agreeing to pay Anna Company the entire $500,000 for the equipment on December 31,2021.The market rate of interest for this note was 10%.
(Round all answers to whole dollar amounts. )
A.Prepare the journal entry Mission Company would record on January 1,2019 related to this purchase.
B.Prepare the December 31,2019,adjusting entry to record interest expense related to the note for the first year.Assume that no adjusting entries have been made during the year.
C.Prepare the December 31,2020,adjusting entry to record interest expense related to the note for the second year.Assume that no adjusting entries have been made during the year.
D.Prepare the entry Mission Company would record on December 31,2021,the due date of the note to record interest expense for the third year and payment of the note.Assume that no adjusting entries have been made during the year.Round the interest expense to an amount that will increase notes payable to the correct final payoff amount.

Which statement is true?

A) The highest paid professional athletes earn economic rent.
B) Economic rent is paid on land,but not in the form of wages.
C) Economic rent is earned mainly by the poor and the lower middle class.
D) Economic rent is paid in proportion to the marginal revenue product of a resource.
E) None of the statements are true.

_____ give an indication of how investors feel about the company's financial future.

A) Liquidity ratios
B) Debt management ratios
C) Asset management ratios
D) Market value ratios