The entry to record reimbursement of the petty cash fund for postage expense should include:
A. A debit to Petty Cash.
B. A debit to Postage Expense.
C. A debit to Cash.
D. A debit to Supplies.
E. A debit to Cash Short and Over.
Answer: B
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Diversity makes an organization innovative and creative. Conversely, sameness fosters an absence of critical thinking, which is called ____________
Fill in the blank(s) with correct word
The Hannibal Homers minor league baseball club is considering an expansion of its stadium to increase capacity by 2000 seats
Management estimates increased revenue from ticket and concession sales to be $600,000 per year for the next 5 years. The cost of expansion is $750,000, with an additional $50,000 in working capital. The working capital increase is permanent (will not be recovered after 5 years). Annual costs are expected to increase by $200,000 per year, the club's cost of capital is 14%, and its tax rate is 30%. If the stadium addition is depreciated in a straight line to a value of $0.00 over 5 years, what is the IRR of this project? (Ignore any revenues or costs associated with a terminal value of the project after five years.) Use a financial calculator to determine your answer. A) 9.41% B) 14.00% C) 25.33% D) 29.45%
Griffith Manufacturing ships 40 crates of goods by Trusty Shipping, a common carrier. Trusty offers Griffith a shipping rate of $725 for a limited liability of $5,000 or a rate of $975 for full liability for any harm to the goods. Griffith chooses the $725 rate. In transit, Trusty's driver has an accident during an ice storm and all of Griffith's goods are destroyed, causing a loss of $12,000. If
Griffith sues Trusty, A) Trusty will be liable for only $5,000 because a common carrier is allowed to limit its liability by contract. B) Trusty will be liable for the full $12,000 because common carriers have strict liability. C) Trusty will automatically be liable for the full $12,000 under the Carmack Amendment. D) Trusty is subject to normal bailment rules and can escape liability for any damage to the goods by proving that it exercised due care of the property and that the loss was caused by an act of God.
Disgorgement of profits refers to: A) the prohibition on doing business with the government
B) the repayment of any profits received as a result of corrupt payments. C) employees being disallowed by companies to be reimbursed. D)employees being restricted from sharing confidential company information with outsiders.