Which of the following is the first step of the performance success cycle?
a. assess
b. talk
c. think
d. coach
c. think
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When using the direct method, how is the collection of cash from customers shown on the statement of cash flows?
a. Operating activity b. Investing activity c. Financing activity d. Noncash investing and financing activity
Since inflation is an important consideration in analyzing financial statements, the FASB requires the submission of all financial statements in an inflation-adjusted format to the SEC
a. True b. False Indicate whether the statement is true or false
For which of the following transactions would the present value of an annuity due concept be most appropriate for calculating the present value of the asset acquired or liability assumed?
A) A rental agreement is entered into with the initial payment due immediately. B) A rental agreement is entered into with the initial payment due one month from the signing of the agreement. C) A note payable is obtained from a bank requiring monthly payments for six years, beginning at the end of the current month. D) A machine is acquired by paying $20,000 cash and agreeing to pay equal annual amounts of $10,000 each at the end of the next three years.
A consequence of a separation of duties is that
a. operations become extremely inefficient because of constant training of employees. b. theft by employees becomes impossible. c. more employees will need to be bonded. d. theft is possible only when several employees are involved.