Question 41
A trainer believes that a new workout regimen has helped athletes score more points per game. If the previous mean for points scored per player per game was 5.3, which alternative hypothesis below is the trainer trying to substantiate?
Question 42
A company's Balance Sheet for the year ended Dec. 31, 2013 is as follows:
(In millions)
The company is MOST likely in which of the following industries?
Question 43
Changing accounting assumptions from year to year without having justifiable reasons for the changes is a departure from the accounting principle of:
Question 44
A DVD manufacturer is considering shutting down its production facility and only selling its movies through digital downloads. The company has signed a contract to pay $3,000 a month for its production facility for the next three years. If the company continues to sell its movies as DVDs, it is projected to earn $8,500 in revenue and spend $3,500 in variable costs each month. Variable costs for the digital downloads are 0. Under what circumstances should the company switch to selling digital downloads?
Question 45
In Dec. of 2013, a company signed a promissory note and recorded a note payable of $150,000. This note is payable in three equal annual installments beginning from Dec. of 2014. How should the company report the note payable on its Dec. 31, 2013 balance sheet?