Miles' startup company began well but within a couple months he found he was unable to pay invoices from suppliers.  He didn't understand how he could have this problem.  He hired experts; his business idea was sound; and he had many new customers.  What went wrong?

A. Miles lacked critical technologies.
B. Miles lacked patents or copyrights.
C. Miles lacked raw materials.
D. Miles lacked cash resources.


Answer: D

Business

You might also like to view...

Materials requirements planning is a process that uses bills of material, raw material and WIP inventory status data, open order data, and the master production schedule to calculate a time-phased order requirements schedule for materials and subassemblies

Indicate whether the statement is true or false

Business

The number of days' sales in inventory is the same as a company's accounting cycle

a. True b. False Indicate whether the statement is true or false

Business

Which of the following is true about unearned revenue?

a. When the account is credited, Cash is debited; b. It is a contra-revenue account; c. When adjusted, a revenue account is debited; d. It is reported on the income statement; e. All statements given are false

Business

When John began helping his favorite uncle Burton with his finances, he discovered his uncle was still renting a rotary-dial telephone from the phone company. Uncle Burton had paid thousands of dollars in rental fees over the previous 40 years. Uncle Burton is a(n) ________ in the diffusion of innovation process for telephones.

A. early majority B. innovator C. laggard D. late majority E. early adopter

Business