Examples of talking report headings include Introduction, Background, Findings, and Conclusions
Indicate whether the statement is true or false
False
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Mercury Company established a petty cash fund with a $600 balance. Which of the following statements is incorrect?
A) A journal entry is needed to debit the Cash account and credit the Petty Cash account for $600. B) There is no net effect on current assets. C) The sum of the cash plus the total of the petty cash tickets should equal $600 at all times. D) The petty cash custodian cashes a check for $600 and places the currency in the petty cash fund box.
Which of the following is the principle reason for preparing managerial accounting reports?
A) Usefulness to management B) Cost of preparation C) Clarity D) GAAP
Which of the following is NOT correct concerning the use of pronouns?
a. Use a singular pronoun with each, everyone, and no. b. Use pronouns that agree in number with the intended meaning of collective nouns. c. Use a singular pronoun when it represents two or more singular antecedents connected by and. d. Use a singular pronoun when two or more singular antecedents are connected by or or nor.
Managing the relationship between current assets and current liabilities of the firm in order to improve the flow of funds is called ________
A) the business operating cycle B) the cash conversion cycle C) working capital management D) the production cycle