The last step in the operating cycle is the
A) sale of merchandise inventory for cash or on credit.
B) payment for purchases made on credit.
C) collection of cash from credit sales.
D) purchase of merchandise inventory for cash or on credit.
C
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Classical economists, who support the profit-oriented school of social responsibility, recognize that there will be unintended effects of profit-seeking activities, called ________,
that affect society and cannot be incorporated into or passed on in the price of an output. A) unforeseeable circumstances B) concomitant consequences C) externalities D) internalities
The disadvantage of a BOOT contract to the project organization is that they must take on:
A) Higher safety risks. B) Higher failure risks. C) Higher financial risks. D) Higher competitive risks.
Martin promised Bellis $50 if Bellis found and returned Martin's cocker spaniel. This contract is
a. bilateral. b. unenforceable. c. unilateral. d. executed.
Break?even analysis may be used to show
A. the relationship between debt financing and earnings. B. the level of sales necessary to avoid losses. C. the level of output required to maximize profits. D. the relationship between sales and equity.