Jones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. The current assets consisted of $62,000 Cash; $43,000 Accounts Receivable; and $88,000 of Inventory. The acid-test (quick) ratio is:
A. 0.64:1.
B. 1.4:1.
C. 0.77:1.
D. 0.54:1.
E. 1:1.
Answer: C
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Probably the most important indicator of financial health is the net cash flow from
a. operating activities. b. investing activities. c. financing activities. d. buying and selling activities.
Answer the following statements true (T) or false (F)
1) Cost of Goods Sold is based on the company's cost, not the retail price. 2) When a sale is made on account, Accounts Receivable is debited. 3) A reduction in the amount of revenue earned on sales for early payment is known as a sales discount. 4) Using the gross method for recording sales, sales are recorded at the amount of the sale less any sales discounts. 5) Using the gross method for recording sales, if a customer pays within the discount period, the seller records the discount as a decrease in Sales Revenue. 6) A merchandiser using the gross method sold goods on account to Customer A for $8,000 with terms of 2/10, n/30. If the payment is received within the discount period, Accounts Receivable is decreased by $7,800.
Packet switching
a. combines the messages of multiple users into one packet for transmission. At the receiving end, the packet is disassembled into the individual messages and distributed to the intended users. b. is a method for partitioning a database into packets for easy access where no identifiable primary user exists in the organization. c. is used to establish temporary connections between network devices for the duration of a communication session. d. is a denial of service technique that disassembles various incoming messages to targeted users into small packages and then reassembles them in random order to create a useless garbled message.
Kegan and Lahey wrote about a language shift, for example, from the language of rules and policies to the language of ______.
a. commitment b. personal responsibility c. ongoing regard d. public agreement