With regard to thinking structurally, superficial similarities:
A. exist when entrepreneurs engage in bricolage.
B. exist when the underlying mechanisms of the technology resemble (or match) the underlying mechanisms of the market.
C. exist when supply is less than demand.
D. exist when the basic (relatively easy to observe) elements of the technology resemble the basic elements of the market.
Answer: D
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Which of the following is an advantage of budgeting?
A) Budgets help managers by eliminating risk, as they show actual values of expected activities. B) Budgets form a part of the financial statements of a company. C) Budgets help managers by identifying potential constraints. D) Budgets contain only dollar values and this helps in analyzing actual performance.
Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $104,500, allowance for doubtful accounts of $665 (credit) and sales of $925,000. If uncollectible accounts are estimated to be 0.5% of sales, what is the amount of the bad debts expense adjusting entry?
A. $4,750 B. $4,625 C. $3,960 D. $4,825 E. $5,290
One drawback of offering liberal credit to customers is that it can:
A. delay sales to a future period. B. increase the cost of credit to customers. C. delay the receipt of cash that the firm needs to meet its financial obligations. D. decrease sales by the extension of credit and cause a loss to the company.
Case-Based Critical Thinking QuestionsCase 6-2Dillon is very interested in music, and likes to understand the technology behind the sound. He is researching the available audio formats to see how each is used.Since Dillon wants the best sound quality, he makes a note that the ____ format provides better sound quality than the MP3 format, using more advanced compression technology.
A. WMA B. AAC C. both a. and b. D. neither a. nor b.