Raj tends to be optimistic and adaptable. Which of the following temperament does he exhibit?
A) Artisan
B) Guardian
C) Rational
D) Idealistic
B) Guardian
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Manufacturers may prefer to sell their closeouts, canceled orders, and out-of-season merchandise to factory outlets rather than off-price chains because _____
a. off-price chains can generate high profit margins b. off-price chains have too much power c. factory outlets generate low short-term cash flow d. greater control results in less disturbance to traditional channels
An income statement reports the revenues earned less the expenses incurred by a business over a period of time.
Answer the following statement true (T) or false (F)
The following transactions apply to Baird Corporation.1) Issued common stock for $40,000 cash.2) Provided services to customers for $32,000 on account.3) Borrowed $30,000 on September 1 at 8% interest with a one-year term.4) Purchased land for $32,000 cash.5) Paid $22,000 for operating expenses.6) Collected $28,000 cash from customers.7) Recorded interest on the note payable at year end.8) Paid $4,000 dividends to stockholders.Required:a) Identify the effect on the statement of cash flows for each of the above transactions. Include the amount and the type of cash flow activity. Cash payments should be entered using parenthesis.b) Classify the above accounting events into one of four types of transactions (asset source, asset use, asset exchange, claims exchange).
What will be an ideal response?
Alice W. is an accountant at Cheshire Corp. She suspects that her boss is making illegal adjustments to the accounting records after she gives them to him. If Alice doesn't say anything or report her suspicions, she has:
A) committed a crime. B) protected the company from a lawsuit. C) protected the stockholders. D) committed an unethical act.