What are your thoughts on a company called "Green Path"?

What are your thoughts on a company called "Green Path"?
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Answer :

I’m skeptical of any debt consolidation business. They’re not doing what they do out of any sense of charity.
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Related questions

Two or more companies combining to form a new company is called absorption.

Description : Two or more companies combining to form a new company is called absorption.

Last Answer : False

In the Clark Company, sales were $480,000, sales returns and allowances were $30,000, and cost of goods sold was $288,000. The gross profit rate was a. 64%. b. 36%. c. 40%. d. 60%.

Description : In the Clark Company, sales were $480,000, sales returns and allowances were $30,000, and cost of goods sold was $288,000. The gross profit rate was a. 64%. b. 36%. c. 40%. d. 60%.

Last Answer : b. 36%.

Cole Company has sales revenue of $39,000, cost of goods sold of $24,000 and operating expenses of $9,000 for the year ended December 31. Cole's gross profit is a. $30,000. b. $15,000. c. $6,000.

Description : Cole Company has sales revenue of $39,000, cost of goods sold of $24,000 and operating expenses of $9,000 for the year ended December 31. Cole's gross profit is a. $30,000. b. $15,000. c. $6,000.

Last Answer : b. $15,000.

West Company has the following account balances: Purchases $48,000 Sales Returns and Allowances 6,400 Purchase Discounts 4,000 Freight-in 3,000 Delivery Expense 4,000 The cost of goods purchased for the period is a. $52,000. b. $47,000. c. $51,000. d. $44,600.

Description : West Company has the following account balances: Purchases $48,000 Sales Returns and Allowances 6,400 Purchase Discounts 4,000 Freight-in 3,000 Delivery Expense 4,000 The cost of goods purchased for the period is a. $52,000. b. $47,000. c. $51,000. d. $44,600.

Last Answer : . $47,000.

At the beginning of the year, Midtown Athletic had an inventory of $400,000. During the year, the company purchased goods costing $1,600,000. If Midtown Athletic reported ending inventory of $600,000 and sales of $2,000,000, the company’s cost of goods sold and gross profit rate must be a. $1,000,000 and 50%. b. $1,400,000 and 30%. c. $1,000,000 and 30%.

Description : At the beginning of the year, Midtown Athletic had an inventory of $400,000. During the year, the company purchased goods costing $1,600,000. If Midtown Athletic reported ending inventory of $600,000 and sales of $2,000,000 ... a. $1,000,000 and 50%. b. $1,400,000 and 30%. c. $1,000,000 and 30%.

Last Answer : b. $1,400,000 and 30%.

If a company has sales of $420,000, net sales of $400,000, and cost of goods sold of $260,000, the gross profit rate is a. 67%. b. 65% c. 35%. d. 33%.

Description : If a company has sales of $420,000, net sales of $400,000, and cost of goods sold of $260,000, the gross profit rate is a. 67%. b. 65% c. 35%. d. 33%.

Last Answer : c. 35%.

A company shows the following balances: Sales $1,000,000 Sales Returns and Allowances 180,000 Sales Discounts 20,000 Cost of Goods Sold 560,000 What is the gross profit percentage? a. 56% b. 70% c. 44% d. 30%

Description : A company shows the following balances: Sales $1,000,000 Sales Returns and Allowances 180,000 Sales Discounts 20,000 Cost of Goods Sold 560,000 What is the gross profit percentage? a. 56% b. 70% c. 44% d. 30%

Last Answer : d. 30%

If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit percentage is a. 70%. b. 30%. c. 15%. d. 100%.

Description : If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit percentage is a. 70%. b. 30%. c. 15%. d. 100%.

Last Answer : b. 30%

Indicate which one of the following would appear on the income statement of both a merchandising company and a service company. a. Gross profit b. Operating expenses c. Sales revenues d. Cost of goods sold

Description : Indicate which one of the following would appear on the income statement of both a merchandising company and a service company. a. Gross profit b. Operating expenses c. Sales revenues d. Cost of goods sold

Last Answer : b. Operating expenses

The operating cycle of a merchandiser is a. always one year in length. b. generally longer than it is for a service company. c. about the same as for a service company. d. generally shorter than it is for a service company.

Description : The operating cycle of a merchandiser is a. always one year in length. b. generally longer than it is for a service company. c. about the same as for a service company. d. generally shorter than it is for a service company.

Last Answer : b. generally longer than it is for a service company.

A merchandising company using a perpetual system may record an adjusting entry by a. debiting Income Summary. b. crediting Income Summary. c. debiting Cost of Goods Sold. d. debiting Sales.

Description : A merchandising company using a perpetual system may record an adjusting entry by a. debiting Income Summary. b. crediting Income Summary. c. debiting Cost of Goods Sold. d. debiting Sales.

Last Answer : d. debiting Sales.

In preparing closing entries for a merchandising company, the Income Summary account will be credited for the balance of a. sales. b. merchandise inventory. c. sales discounts. d. freight-out.

Description : In preparing closing entries for a merchandising company, the Income Summary account will be credited for the balance of a. sales. b. merchandise inventory. c. sales discounts. d. freight-out.

Last Answer : b. merchandise inventory.

merchandising company using a perpetual system will make a. the same number of adjusting entries as a service company does. b. one more adjusting entry than a service company does. c. one less adjusting entry than a service company does. d. different types of adjusting entries compared to a service company.

Description : merchandising company using a perpetual system will make a. the same number of adjusting entries as a service company does. b. one more adjusting entry than a service company does. c. one ... than a service company does. d. different types of adjusting entries compared to a service company.

Last Answer : c. one less adjusting entry than a service company does.

Hale Company sells merchandise on account for $1,500 to Kear Company with credit terms of 2/10, n/30. Kear Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? a. $1,470 b. $1,476 c. $1,200 d. $1,176

Description : Hale Company sells merchandise on account for $1,500 to Kear Company with credit terms of 2/10, n/30. Kear Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount ... is the amount of the check? a. $1,470 b. $1,476 c. $1,200 d. $1,176

Last Answer : d. $1,176

Company A sells $500 of merchandise on account to Company B with credit terms of 2/10, n/30. If Company B remits a check taking advantage of the discount offered, what is the amount of Company B's check? a. $350 b. $490 c. $450 d. $400

Description : Company A sells $500 of merchandise on account to Company B with credit terms of 2/10, n/30. If Company B remits a check taking advantage of the discount offered, what is the amount of Company B's check? a. $350 b. $490 c. $450 d. $400

Last Answer : b. $490

Holt Company sells merchandise on account for $2,000 to Jones Company with credit terms of 2/10, n/30. Jones Company returns $400 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? a. $1,960 b. $1,968 c. $1,600 d. $1,568

Description : Holt Company sells merchandise on account for $2,000 to Jones Company with credit terms of 2/10, n/30. Jones Company returns $400 of merchandise that was damaged, along with a check to settle the account within the discount ... the amount of the check? a. $1,960 b. $1,968 c. $1,600 d. $1,568

Last Answer : d. $1,568

Company X sells $400 of merchandise on account to Company Y with credit terms of 2/10, n/30. If Company Y remits a check taking advantage of the discount offered, what is the amount of Company Y's check? a. $280 b. $392 c. $360 d. $320

Description : Company X sells $400 of merchandise on account to Company Y with credit terms of 2/10, n/30. If Company Y remits a check taking advantage of the discount offered, what is the amount of Company Y's check? a. $280 b. $392 c. $360 d. $320

Last Answer : b. $392

If a company is given credit terms of 2/10, n/30, it should a. hold off paying the bill until the end of the credit period, while investing the money at 10% annual interest during this time. b. pay within the discount period and recognize a savings. c. pay within the credit period but don't take the trouble to invest the cash while waiting to pay the bill. d. recognize that the supplier is desperate for cash and withhold payment until the end of the credit period while negotiating a lower sales price.

Description : If a company is given credit terms of 2/10, n/30, it should a. hold off paying the bill until the end of the credit period, while investing the money at 10% annual interest during ... desperate for cash and withhold payment until the end of the credit period while negotiating a lower sales price.

Last Answer : b. pay within the discount period and recognize a savings.

Stine Company purchased merchandise with an invoice price of $2,000 and credit terms of 2/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms? a. 20% b. 24% c. 36% d. 72%

Description : Stine Company purchased merchandise with an invoice price of $2,000 and credit terms of 2/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms? a. 20% b. 24% c. 36% d. 72%

Last Answer : c. 36%

Flynn Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period? a. $5,000 b. $4,900 c. $4,500 d. $4,600

Description : Flynn Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period? a. $5,000 b. $4,900 c. $4,500 d. $4,600

Last Answer : b. $4,900

Bryan Company purchased merchandise from Cates Company with freight terms of FOB shipping point. The freight costs will be paid by the a. seller. b. buyer. c. transportation company. d. buyer and the seller.

Description : Bryan Company purchased merchandise from Cates Company with freight terms of FOB shipping point. The freight costs will be paid by the a. seller. b. buyer. c. transportation company. d. buyer and the seller.

Last Answer : b. buyer.

f a company determines cost of goods sold each time a sale occurs, it a. must have a computer accounting system. b. uses a combination of the perpetual and periodic inventory systems. c. uses a periodic inventory system. d. uses a perpetual inventory sy

Description : f a company determines cost of goods sold each time a sale occurs, it a. must have a computer accounting system. b. uses a combination of the perpetual and periodic inventory systems. c. uses a periodic inventory system. d. uses a perpetual inventory sy

Last Answer : a. must have a computer accounting system.

The primary source of revenue for a wholesaler is a. investment income. b. service fees. c. the sale of merchandise. d. the sale of fixed assets the company owns.

Description : The primary source of revenue for a wholesaler is a. investment income. b. service fees. c. the sale of merchandise. d. the sale of fixed assets the company owns.

Last Answer : c. the sale of merchandise.

A merchandising company that sells directly to consumers is a a. retailer. b. wholesaler. c. broker. d. service company.

Description : A merchandising company that sells directly to consumers is a a. retailer. b. wholesaler. c. broker. d. service company.

Last Answer : a. retailer.

Which of the following would not be considered a merchandising company? a. Retailer b. Wholesaler c. Service firm d. Dot Com firm

Description : Which of the following would not be considered a merchandising company? a. Retailer b. Wholesaler c. Service firm d. Dot Com firm

Last Answer : c. Service firm

Current liabilities a. are obligations that the company is to pay within the forthcoming year. b. are listed in the balance sheet in order of their expected maturity. c. are listed in the balance sheet, starting with accounts payable. d. should not include long-term debt that is expected to be paid within the next year.

Description : Current liabilities a. are obligations that the company is to pay within the forthcoming year. b. are listed in the balance sheet in order of their expected maturity. c. are listed in the balance sheet, ... . d. should not include long-term debt that is expected to be paid within the next year.

Last Answer : a. are obligations that the company is to pay within the forthcoming year. b. are listed in the balance sheet in order of their expected maturity.

At the beginning of April, Logan Enterprises had a $400 balance in the Supplies account. During the month, Logan purhchased additional supplies for $500. At April 30, the company had $350 of supplies on hand. The balance in the supplies expense account that will be closed to Income Summary is a. $350. b. $400. c. .$500. d. $550.

Description : At the beginning of April, Logan Enterprises had a $400 balance in the Supplies account. During the month, Logan purhchased additional supplies for $500. At April 30, the company had $350 of supplies on hand. The balance ... be closed to Income Summary is a. $350. b. $400. c. .$500. d. $550.

Last Answer : d. $550.

The operating cycle of a company is the average time that is required to go from cash to a. sales in producing revenues. b. cash in producing revenues. c. inventory in producing revenues. d. accounts receivable in producing revenues.

Description : The operating cycle of a company is the average time that is required to go from cash to a. sales in producing revenues. b. cash in producing revenues. c. inventory in producing revenues. d. accounts receivable in producing revenues.

Last Answer : b. cash in producing revenues.

It is not true that current assets are assets that a company expects to a. realize in cash within one year. b. sell within one year. c. use up within one year. d. acquire within one year.

Description : It is not true that current assets are assets that a company expects to a. realize in cash within one year. b. sell within one year. c. use up within one year. d. acquire within one year.

Last Answer : d. acquire within one year.

A current asset is a. the last asset purchased by a business. b. an asset which is currently being used to produce a product or service. c. usually found as a separate classification in the income statement. d. an asset that a company expects to convert to cash or use up within one year.

Description : A current asset is a. the last asset purchased by a business. b. an asset which is currently being used to produce a product or service. c. usually found as a separate classification in the income statement. d. an asset that a company expects to convert to cash or use up within one year.

Last Answer : d. an asset that a company expects to convert to cash or use up within one year.

Speedy Bike Company received a $940 check from a customer for the balance due. The transaction was erroneously recorded as a debit to Cash $490 and a credit to Service Revenue $490. The correcting entry is a. debit Cash, $940; credit Accounts Receivable, $940. b. debit Cash, $450 and Accounts Receivable, $490; credit Service Revenue, $940. c. debit Cash, $450 and Service Revenue, $490; credit Accounts Receivable, $940. d. debit Accounts Receivable, $940; credit Cash, $450 and Service Revenue, $490.

Description : Speedy Bike Company received a $940 check from a customer for the balance due. The transaction was erroneously recorded as a debit to Cash $490 and a credit to Service Revenue $490. The ... Receivable, $940. d. debit Accounts Receivable, $940; credit Cash, $450 and Service Revenue, $490.

Last Answer : c. debit Cash, $450 and Service Revenue, $490; credit Accounts Receivable, $940.

Company incorporated outside India can become a partner in a LLP.

Description : Company incorporated outside India can become a partner in a LLP.

Last Answer : TRUE

Company incorporated outside India can become a partner in a LLP.

Description : Company incorporated outside India can become a partner in a LLP.

Last Answer : TRUE

When the liquated company has adequate cash to pay off all liabilities , the interest on liabilities should be paid : a) Upto the date of commencement of insolvency proceedings b) Upto the date of actual payment of liabilities c) Upto the date of payment to shareholders d) None of the these

Description : When the liquated company has adequate cash to pay off all liabilities , the interest on liabilities should be paid : a) Upto the date of commencement of insolvency proceedings b) Upto the date of actual payment of liabilities c) Upto the date of payment to shareholders d) None of the these

Last Answer : d) None of the these

If a default is made in delivering the annual return to the Registrar , the company is likely to facea) Compulsory winding up by the tribunal. b) Voluntary winding by members. c) Voluntary winding up by creditors. d) None of the above

Description : If a default is made in delivering the annual return to the Registrar , the company is likely to facea) Compulsory winding up by the tribunal. b) Voluntary winding by members. c) Voluntary winding up by creditors. d) None of the above

Last Answer : a) Compulsory winding up by the tribunal.

A contributory can only be present member of liquidated company.

Description : A contributory can only be present member of liquidated company.

Last Answer : FALSE

If the company is insolvent , interest on debentures is payable upto the date of actual payment.

Description : If the company is insolvent , interest on debentures is payable upto the date of actual payment.

Last Answer : FALSE

Only an insolvent company can be liquidated.

Description : Only an insolvent company can be liquidated.

Last Answer : FALSE

Intrinsic value of each equity shares of the vendor company is Rs. 250 and that of the purchasing company is Rs. 400. The exchange ratio of shares on the basis of intrinsic value is - (A) 2:1 (B) 8:8 (C) 8:5 (D) None of the above

Description : Intrinsic value of each equity shares of the vendor company is Rs. 250 and that of the purchasing company is Rs. 400. The exchange ratio of shares on the basis of intrinsic value is - (A) 2:1 (B) 8:8 (C) 8:5 (D) None of the above

Last Answer : (C) 8:5

Net Assets of D.Co. for Purchase Consideration worth Rs. 4,00,000. At the time of absorption, the company has paid 32,000 equity shares each of Rs.10 each at 10% premium, then remaining cash will be - (A) Rs. 48,000 (B) Rs. 84,000 (C) Rs. 80,000 (D) Rs. 90,000

Description : Net Assets of D.Co. for Purchase Consideration worth Rs. 4,00,000. At the time of absorption, the company has paid 32,000 equity shares each of Rs.10 each at 10% premium, then remaining cash will be - (A) Rs. 48,000 (B) Rs. 84,000 (C) Rs. 80,000 (D) Rs. 90,000

Last Answer : (A) Rs. 48,000

The shares received from the new company is recorded at________ (A) Face value (B) Market value (C) Average price (D) None of these

Description : The shares received from the new company is recorded at________ (A) Face value (B) Market value (C) Average price (D) None of these

Last Answer : (B) Market value

When company purchases the business of another company ........ comes into existence. (A) Amalgamation (B) Absorption (C) External Reconstruction (D) Internal Reconstruction

Description : When company purchases the business of another company ........ comes into existence. (A) Amalgamation (B) Absorption (C) External Reconstruction (D) Internal Reconstruction

Last Answer : (B) Absorption

When liquidation expenses is paid and borne by seller company then it is debited to_____ (A) Bank A/c (B) Goodwill A/c (C) Realisation A/c (D) Capital Reserve A/c.

Description : When liquidation expenses is paid and borne by seller company then it is debited to_____ (A) Bank A/c (B) Goodwill A/c (C) Realisation A/c (D) Capital Reserve A/c.

Last Answer : (C) Realisation A/c

When the purchasing company does not take over a particular liability and the vendor company pays that liability, it will debit it to______ (A) Realisation Account (B) Bank Account (D) Liability Account (D) Creditors Account

Description : When the purchasing company does not take over a particular liability and the vendor company pays that liability, it will debit it to______ (A) Realisation Account (B) Bank Account (D) Liability Account (D) Creditors Account

Last Answer : (A) Realisation Account

In amalgamation of two companies (A) Both companies lose their existence (B) Both companies continue (C) Any one company continues

Description : In amalgamation of two companies (A) Both companies lose their existence (B) Both companies continue (C) Any one company continues

Last Answer : (A) Both companies lose their existence

In case of .............., one existing company takes over the business of another company and no new company is formed.(A) Amalgamation (B) Absorption (C) Reconstruction (D) None of the Above

Description : In case of .............., one existing company takes over the business of another company and no new company is formed.(A) Amalgamation (B) Absorption (C) Reconstruction (D) None of the Above

Last Answer : (B) Absorption

Which of the following statement is correct? (A) The amount of Goodwill or Capital Reserve is recorded in the books of purchasing company only (B) The amount of Goodwill or Capital Reserve is recorded in the books of vendor company only. (C) Goodwill = Net Assets – Purchase price (D) The face value of shares of purchasing company will be taken in to account while calculating purchase consideration.

Description : Which of the following statement is correct? (A) The amount of Goodwill or Capital Reserve is recorded in the books of purchasing company only (B) The amount of Goodwill or Capital ... value of shares of purchasing company will be taken in to account while calculating purchase consideration.

Last Answer : The amount of Goodwill or Capital Reserve is recorded in the books of purchasing company only

Shares received from the new company are recorded at - (A) Face value (B) Average price (C) Market value (D) None of the above

Description : Shares received from the new company are recorded at - (A) Face value (B) Average price (C) Market value (D) None of the above

Last Answer : (C) Market value

When one of the existing companies take over business of another company or companies, it is known as ........... (A) Amalgamation (B) Absorption (C) Internal reconstruction (D) External reconstruction

Description : When one of the existing companies take over business of another company or companies, it is known as ........... (A) Amalgamation (B) Absorption (C) Internal reconstruction (D) External reconstruction

Last Answer : (B) Revised Value