The sharing of the data means that data need to be stored only once
Indicate whether the statement is true or false
TRUE
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Retail stores such as Macy's that offer a wide variety of products for customers use ______ departmentalization.
a. product b. functional c. customer d. divisional
Why might a firm use the quick ratio instead of the current ratio in its liquidity analysis?
a. It wants to target long-term debt instead of short term debt. b. Its accounts receivable are greater than its cash. c. Its inventory is not very liquid. d. It considers the cash flow amount in the quick ratio more important than the other liquidity ratios. e. Its notes receivable are greater than its cash.
The product life-cycle concept from microeconomics and marketing provides useful insights into the relations among cash flows from operating, investing, and financing activities. During the _____, net income usually reaches a peak, and working capital stops growing. Operations generate positive cash flow, enough to finance expenditures on property, plant, and equipment. Capital expenditures
usually maintain, rather than increase, productive capacity. Firms use the excess cash flow to repay borrowing from the introduction and growth phases and to begin paying dividends to shareholders. a. introduction phase b. growth phase c. mature phase d. late maturity phase e. decline phase
Criminal liability for accountants
a. is not an option under securities law; there is only civil liability. b. is possible under the Securities Act of 1933, the 1934 Act, state securities laws, and the Internal Revenue Code. c. may result in fines but not imprisonment from violation of the federal securities laws. d. will result from violation of the accountant-client privilege under federal law.