Which of the following would not be included in operating assets in return on investment calculations?
A. Cash.
B. Accounts Receivable.
C. Factory building rented to (and occupied by) another company.
D. Equipment.
Answer: C
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Under the accrual basis of accounting, net income is determined by matching the revenues earned during a period with the expenses incurred as a result of the efforts made to produce the revenue
a. True b. False Indicate whether the statement is true or false
All of the following are examples of subsequent events that would be disclosed in the footnotes to the financial statements except
A) fire or flood loss. B) a litigation settlement. C) a bond issuance after the balance sheet date. D) the write off of a significant uncollectible account.
Selective price cuts, intense promotional blitzes, and occasional legal action are commonplace in the strategic design of a(n) ________ attack
A) frontal B) flank C) bypass D) encirclement E) guerilla
Which of the following is not a goal of a system of internal control over merchandising transactions?
a. Prevent the theft of cash and inventory. b. Keep enough cash on hand to take advantage of purchase discounts. c. Keep the maximum amount of inventory on hand at all times. d. Keep credit losses as low as possible.