Estadística ii

Chapters 13 y 14

Multiple Choices (1 point each)

Note: Explanations, including calculations and theory for multiple choice selections can be found in Appendix A presented at the end of the exam.

|D |(1) Which of the following statements is correct? |
| |A company may exclude a short-term obligation from currentliabilities if the firm intends to refinance the obligation on|
| |a long-term basis. |
| |A company may exclude a short-term obligation from current liabilities if the firm can demonstrate an ability to |
| |consummate a refinancing.|
| |A company may exclude a short-term obligation from current liabilities if it is paid off after the balance sheet date and|
| |subsequently replaced by long-term debt before the balance sheet is issued. |
| |None of these.|
| | |
|D |(2) A contingent liability |
| |definitely exists as a liability but its amount and due date are indeterminable.|
| |is accrued even though not reasonably estimated. |
| |is not disclosed in the financial statements. |
| |is the result of a loss contingency.|
| | |
| |Use the following information for questions 3 and 4. |
| ||
| |Keane Co. includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. |
| |The leashes cost Keane $3.00 each. Keane estimates that 40% of the coupons will be redeemed. Data for 2009 and 2010 are |
| |as follows:|
| | |
| | |
| |2009|
| | |
| |2010 |
| | |
||Bags of dog food sold |
| |500,000 |
| | |
| |600,000...