Reynolds Company experienced an accounting event that affected its financial statements as indicated below:Assets=Liab.+EquityRev.?Exp.=Net Inc.Stmt ofCash Flows+ NA ++ NA ++OAWhich of the following accounting events could have caused these effects on the elements of Reynolds' statements?
A. Paid a cash dividend.
B. Earned cash revenue.
C. The information provided does not represent a completed event.
D. Borrowed money from a bank.
Answer: B
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Companies who believe that higher sales volume leads to lower unit costs and higher long-run profits are attempting to ________
A) maximize their market share B) skim the market C) become a product-quality leader D) merely survive in the market E) maximize their current profits
When using the installment sales method,
a. total revenues and costs are recognized at the point of sale, but gross profit is deferred in proportion to the cash that is uncollected from the sale. b. gross profit is recognized only after the amount of cash collected exceeds the cost of the item sold. c. revenue, costs, and gross profit are recognized proportionally as the cash is received from the sale of product. d. gross profit is deferred until all cash is received, but revenues and costs are recognized in proportion to the cash collected from the sale.
The optimal solution for a graphical linear programming problem is the corner point that is the farthest from the origin
Indicate whether this statement is true or false.
Johnathan works in a large warehouse located near a freeway. He is tasked with receiving shipments of toys that are delivered via trucks from the manufacturers. He logs them in for the business and then directs them into the warehouse where they are either stored in their original shipping containers, or opened and broken into smaller quantities which are then repackaged with other toys and sent out to stores that have ordered them. The retailer opens the shipment from Johnathan's company, inspects them, pays for them, then enters them into the store's inventory and sells them to customers. Johnathan enjoys his job because he has the opportunity to work with individuals from a variety of toy manufacturers. What distribution channel is he a part of?
A. Producer to retailer to consumer B. Producer to wholesaler to retailer to consumer C. Producer to agent to wholesaler to retailer to consumer D. Producer to agent middleman to organizational buyer