If a profitable firm finds that it simply must "stretch" its accounts payable, then this suggests that it is undercapitalized, i.e., that it needs more working capital to support its operations.
Answer the following statement true (T) or false (F)
True
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Gen enjoys owning a micro-refrigerator, which is small enough to fit almost anywhere. Gen believes that the efficient use of space is one of the characteristics that any good product should have
With respect to the functional areas of a cultural system, Gen is focusing on ________ as a variable in selecting products. A) ideology B) ecology C) social structure D) socio-psychology
The equality of debits and credits in a trial balance means that all entries were correctly posted to the accounts
a. True b. False Indicate whether the statement is true or false
A bar owner, has an obligation to ensure that all patrons are reasonably safe from the actions from drunken customers
Indicate whether the statement is true or false
Hancock Medical Supply Co., earned $160,000 of revenue on account during Year 1, its first year of operation. During Year 1, Hancock collected $128,000 of cash from its receivables accounts. The company did not write-off any uncollectible accounts. It estimates that it will be unable to collect 1% of revenue on account. What is the net realizable value of receivables that will be reported on the balance sheet at December 31, Year 1?
A. $30,400 B. $32,000 C. $30,720 D. $30,000