Answer the following statements true (T) or false (F)
1. Petty cash is a fund containing a small amount of cash that is used to pay for minor expenditures.
2. A key to strong control over petty cash is to ensure that several persons serve as custodian at one time.
3. All petty cash fund payments should be supported with sequentially numbered petty cash tickets.
4. The journal entry to open a new petty cash fund includes a debit to the Petty Cash account and a credit to the Cash account.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
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Interviews with industry experts individuals knowledgeable about the firm and the industry may help formulate the marketing research problem. Which of the following statements is true about interviews with industry experts?
A) These experts may be found both inside and outside the firm. B) Typically, expert information is obtained by unstructured personal interviews without administering a formal questionnaire. C) It is helpful to prepare a list of topics to be covered during the interview. D) All of the above are true.
Gains and losses on the purchase and resale of treasury stock may be reflected only in
a. paid-in capital accounts. b. paid-in capital and retained earnings accounts. c. income, paid-in capital, and retaining earnings accounts. d. income and paid-in capital accounts. e. None of these answer choices is correct.
SCENARIO-BASED QUESTIONS Communicate Ethically And Responsibly ? Thomas is the CEO of AZ Consultancy Services, a recently opened information technology service corporation in California, US. Thomas wants to recruit 100 engineering graduates in the
next few months. So, he creates a brochure that would be distributed throughout the state for awareness. He wants Steve, a senior data analyst in the same company, to help create the brochure. Steve does not know how to create a brochure, so he decides to ask Alan to create a checklist for him on how to create a brochure and how to communicate a message ethically and responsibly. Provide guidelines to help Steve communicate the information ethically and responsibly.
Florida HospitalsA group of hospital administrators in Florida were discussing the amount of resources used to care for patients that were illegal immigrants and had no medical insurance. One man discussed how his hospital had spent over $2 million on one illegal immigrant who had no family or friends and who was not getting better. Another administrator stated that his hospital was losing $20 million annually in order to provide care for the influx of illegal immigrants into the state. After a great deal of discussion, it was determined that there was probably nothing anyone of them could do about the situation, and that each of them had very definite ideas about how to deal with the problems.Refer to Florida Hospitals. One older administrator talked about an early job in Africa where
the hospital had been flooded with refugees. He said, "The hospital was short resources for awhile, but the government stepped up and helped. We were able to get up-to-date equipment because officials saw we had a need. I believe the rest of you administrators need to be more patient." In suggesting patience, this administrator was basing his thinking on the _____ ethical theory. A. act utilitarianism B. casuist C. role utilitarianism D. moral relativity E. deontological