The ABC Company paid cash on account for supplies purchased last month. This would be recorded in the T-accounts as a:
A. debit Cash and credit Supplies.
B. debit Accounts Receivable and credit Cash.
C. debit Supplies and credit Accounts Payable.
D. debit to Accounts Payable and credit Cash.
Answer: D
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Which of the following is true of the International Monetary Fund (IMF)?
A) The IMF is a federal body that consists of representatives of all the states and federal experts of the United States. B) The IMF is funded from the Superfund created by the Comprehensive Environmental Response, Compensation, and Liability Act. C) The IMF is an autonomous agency of the United Nations which promotes sound monetary, fiscal, and macroeconomic policies worldwide. D) The IMF is responsible for providing one-time grants to needy countries with no terms and conditions attached to the assistance.
A commercial agreement between a party that owns a trade name or trademark and a party that sells or distributes goods or services using that trade name or trademark is known as a ________
A) joint venture B) joint stock company C) franchise relationship D) syndicate
Which of the following applies if a business wishes to revoke an individual's permission to enter its premises?
A) The business must provide reasonable grounds for the revocation. B) The business must first ask the individual to leave the premises. C) The business can revoke permission without any reason D) The business must have caught the individual in the act of shoplifting E) Both B and C.
A company seeking investment opportunities has collected the following information
Project A Project B Project C Project D Initial investment $400,000 $250,000 $150,000 $270,000 PV of cash inflows $570,000 $295,000 $210,000 $282,000 Payback period (years) 3.6 3.0 4.75 3.5 NPV of project $170,000 $45,000 $60,000 $12,000 Profitability index 1.43 1.18 1.40 1.04 If the company makes a decision based on the net present value, which project will be selected? A) Project A B) Project B C) Project C D) Project D