Question
What does book value per share measure?
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Answer
Common equity per common share.
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Question
Why is variance defined as actual minus budget?
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Answer
It gives the direction of the difference.
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Question
Why can paying a current liability raise the current ratio when it is already above 1.0?
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Answer
The denominator falls proportionally more than the numerator.
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Question
Why can the same liability payment lower the current ratio when it is below 1.0?
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Answer
The numerator falls proportionally more than the denominator.
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