Which statement is false? a) taking a physical inventory involves actually counting, weighing, or measuring each kind of inventory on hand. b) no matter whether a periodic or perpetual inventory system is used, all companies need to determine inventory quantities at the end of each accounting period. c) an inventory count is generally more accurate when goods are not being sold or received during the counting. d) companies that use a perpetual inventory system must take a physical inventory to determine inventory on hand on the balance sheet date and to determine cost of goods sold for the accounting period.

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances

In addition to using the icons to adjust page margins, a user can also use

When partners own different portions of the business, the terms should be stated clearly in what document? the articles of incorporation the executive summary the business summary the partnership agreement