A firm has an operating cycle of 170 days, an average payment period of 50 days, and an average age of inventory of 145 days. The firm's average collection period is ________ days.
A) 25
B) 75
C) 95
D) 120
A) 25
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Which of the following is not an inherent limitation in an auditor's ability to detect material misstatements relating to a client's compliance with laws and regulations?
a. Laws and regulations often relate to operational issues within the entity that do not necessarily relate to the financial statements, so the information systems relating to financial reporting may not capture noncompliance. b. The legal implications of noncompliance are ultimately a matter for legal authorities to resolve, and are not a matter about which the auditor can resolve. c. Management may act to conceal noncompliance, or may override controls, or may intentionally misrepresent facts to the auditor. d. Auditors are not required to consider the applicable legal and regulatory frameworks that apply to the entity.
Gavin's position at Pharma-Tech involves purchasing complex manufacturing components, making decisions based on technical data, and creating detailed, scientific reports
Tanya, the sales representative assigned to work with Gavin, has experienced difficulties in the past when attempting to communicate with Gavin, who is precise, aloof, serious, and disciplined. Which of the following would most likely help Tanya build a relationship with Gavin? A) Tanya should use both verbal and nonverbal communication styles to keep Gavin engaged in the sales presentation. B) Tanya should express great enthusiasm for the products she sells and ask Gavin many questions to draw him into the presentation. C) Tanya should give a quick-paced presentation and attempt to close the sale quickly to prevent wasting too much of Gavin's time. D) Tanya should take time to learn about Gavin's personal and work life before giving a brief overview of the product she is selling. E) Tanya should give a well-organized presentation with extensive documentation and avoid pressuring Gavin to make a quick decision.
Market characteristics such as size, growth rate, and trends are established in the market
overview section in a marketing plan. Indicate whether the statement is true or false
Which of the following is generally NOT in the introductory paragraph of a contract?
A) The date of the contract B) The covenants of the contract C) The parties to the contract D) The nature of the contract