Which of the following statement is false?
a. When an account is written off as being uncollectible, accounts receivable and uncollectible accounts will both be increased.
b. Many managers believe that the cash budget is the most important of all the budgets because a company cannot survive without cash.
c. When an account is written off as being uncollectible, the income statement is not affected.
d. Since most sales are made on credit, the sales information must be translated into cash receipts by using estimated collection patterns.
a
You might also like to view...
If the Ball Corp. writes down its inventory, its:
A. cost of goods sold will decrease. B. net income will increase. C. stockholders' equity will increase. D. current assets will decrease.
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:MonthMachine HoursElectricity CostsJanuary2,500$18,400 February2,900 21,000 March1,900 13,500 April3,100 23,000 May3,800 28,250 June3,300 22,000 July4,100 24,750 August3,500 22,750 September2,000 15,500 October3,700 26,000 November4,700 31,000 December4,200 27,750 Summary OutputRegression StatisticsMultiple R0.965R Square0.932Adjusted R20.925Standard Error1,425.18Observations12.00 CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Intercept3,726.881,682.822.210.05(22.69)7,476.45Machine Hours5.770.4911.70.004.676.87If the controller
uses regression analysis to estimate costs, the estimate of the variable portion of electricity costs is: A. Electricity Costs = $5.77 × Machine hours. B. Electricity Costs = $11.70 × Machine hours. C. Electricity Costs = $0.93 × Machine hours. D. Electricity Costs = $0.49 × Machine hours.
According to the new approaches to determining the success of an expatriate's assignment, the assessment of an expatriate's success should be:
A. equated with how long the expatriate stayed in the foreign location. B. tied to the strategic goals the assignment was meant to accomplish. C. equated with how early the expatriate returned from the foreign location. D. tied to how well he or she assimilated the local culture and values.
Corporate governance rules do not safeguard the property interests that owners have in corporations.
Answer the following statement true (T) or false (F)