The supplies account has a balance of $1,000 on January 1. During January, the company purchased $25,000 of supplies on account and the liability was appropriately recorded. A count of supplies at the end of January indicates a balance of $3,000. Which one of the following is a correct amount to be reported on the company's financial statements for the month ending January 31?
A) Supplies expense - $23,000
B) Supplies on hand - $1,000
C) Accounts payable - $28,000
D) Supplies expense - $26,000
A
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What was the strength of Hofstede’s (1980) survey of 75,000 employees from only one global company (IBM) when he developed his theory of values?
a. The organization was kept constant because he could show that organizational culture is a myth, and that national culture always take over the organization’s cultures b. The organization was kept constant because any variation in value systems will, therefore, be due to national cultures rather than organizational differences c. The organization was kept constant because only IBM agreed to participate in the study d. None of the above
A company made net sales revenue of $530,000, and cost of goods sold totaled $238,500. Calculate its gross profit percentage
A) 55% B) 45% C) 130% D) 300%
It is not possible for a corporation to be guilty of a criminal felony violation of the Sherman Act
Indicate whether the statement is true or false
The major advantage of a letter of credit to the exporter is that the exporter does not receive any funds until the documents have arrived at a local port or airfield
Indicate whether the statement is true or false.