Which of the following sentences is the best example of a Statement of Purpose?
a. The purpose of this study is to determine the need for additional office space.
b. This report is a study of laptop computers.
c. This report explains how teams can work more effectively in the workplace.
d. This report presents the problem of theft in companies.
a
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A company with working capital of $720,000 and a current ratio of 2.2 pays a $125,000 short-term liability. The amount of working capital immediately after payment is
a. $845,000 b. $595,000 c. $720,000 d. $125,000
A credit memorandum for $420 (sales price of merchandise, $400; sales tax, $20) was issued to a customer for goods returned that had been purchased on account. To properly enter this transaction, Accounts Receivable would be credited for
a. $0; b. $20; c. $400; d. $420; e. none of these
Operating expenses incurred for the entire business as a unit that are not subject to the control of individual department managers are called indirect expenses
Indicate whether the statement is true or false
In 1995, Jack executed a valid will in which he left his entire estate to the Heart Fund. In 2000, Jack was declared incompetent and committed to an institution. At his death in 2005, his son, Brian, who was his sole survivor, contested the will claiming that Jack was obviously incompetent. Will Brian prevail with this argument? Explain