finance 2 questions


  • Huff Company and Mesa Company are similar firms that operate in the same industry. See Exercise 1-10 for the table.

Write a short essay comparing Huff and Mesa using the available information. Your discussion should include their ability to meet current obligations and to use current assets efficiently.



  • Some financial statement users criticize the timeliness of annual financial statements.


a. Explain why summary information in the income statement is not new information when the annual report is issued.

b. Describe the types of information in the income statement that are new information to financial statement users when the annual report is issued.

William James conceived consciousness as a continuous stream of thought that may or may not be based on sensations. Consider a scenario in which you come home from work and are too tired to do anything. You sit down on the couch and turn the TV on, but for a while you are simply staring at the TV screen without paying attention to what is being played on TV; you realize that you are hungry and should try to find something to eat. Were you conscious during that period when you were blankly staring at the TV screen? Why or why not?