A firm has just ended its calendar year making a sale in the amount of $150,000 of merchandise purchased during the year at a total cost of $112,500
Although the firm paid in full for the merchandise during the year, it is yet to collect at year end from the customer. The net profit and cash flow from this sale for the year are ________.
A) $0 and $150,000, respectively
B) $37,500 and -$150,000, respectively
C) $37,500 and -$112,500, respectively
D) $150,000 and $112,500, respectively
C
You might also like to view...
"What prompted you to apply for our company?" is an example of a traditional interview question
Indicate whether this statement is true or false.
Which of the following would not be considered a subsequent event to financial statements?
a. A major customer declares bankruptcy subsequent to the balance sheet date, but prior to issuing the statements. This event was not considered on the balance sheet date. b. A major purchase of a subsidiary to the balance sheet date, but prior to issuing the statements. c. Substantial debt incurred subsequent to the balance sheet date, but prior to issuing the statements. d. Substantial stock issued subsequent to the balance sheet date, but prior to issuing the statements. e. Hiring of employees for a new store, subsequent to the balance sheet date, but prior to issuing the statements.
What is the service desk's role in the change management process?
A. The service desk logs and approves emergency changes, so that impact to the business is minimized. B. The service desk runs the CAB meetings and communicates the calendar of upcoming changes. C. The service desk implements all changes that can be delivered and installed remotely. D. The service desk tracks incidents caused by change via the incident management process.
Governmental accounting funds whose operations are similar to private businesses are called ________ funds
a. enterprise b. capital projects c. debt service d. fiduciary