Given that a customer purchased the brand Fret in the present year (year 1), determine the probability that a customer will purchase Cessy in year 3
What will be an ideal response?
Answer: .39
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Which one of the following is not a procedure in the approval of a specific invoice for payment?
a. The purchase requisition, purchase order, receiving report, and invoice are compared. b. The extensions and footings on the invoice are verified. c. An employee verifies that all of the approval activities have been completed before a check is prepared. d. The purchasing department prepares a voucher to request payment.
As of December 31, Year 1, Gant Corporation had a current ratio of 1.29, quick ratio of 1.05, and working capital of $18,000. The company uses a perpetual inventory system and sells merchandise for more than it cost. On January 1, Year 2, Gant recorded cost of goods sold of $4,100. As a result of this transaction, Gant's quick ratio will:
A. Decrease. B. Remain the same. C. Increase. D. Cannot be determined.
Bruce lied about his health history when he purchased a life insurance policy. He died 3 years after the policy was issued
Which life insurance policy provision will require the life insurer to pay the beneficiary even though Bruce lied on the application? A) incontestable clause B) entire contract clause C) ownership clause D) change-of-plan provision
The main purpose of using a payable-through draft system is to gain effective control over field
payments. Indicate whether the statement is true or false