In the generally accepted stages of the business buying process, the step following the description of the characteristics of the item and the quantity needed is the ________
A) acquisitions of proposals
B) search for and qualification of potential sources
C) recognition of the organization's problem or need
D) determination of the characteristics of the needed item
E) selection of an order routine
B
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The assets of a company total $700,000; the liabilities, $200,000. What is the amount of equity?
A. $900,000. B. $700,000. C. $200,000. D. $500,000. E. It is impossible to determine unless the amount of the stock issuances is known.
Which of the following is an example of a forecasted activity in tactical decision-making?
A. new product development B. sales and production planning C. production scheduling D. worker assignments
Alloy Corp is considering the acquisition of a new processing line. The processor can be purchased
for $3,750,000; it will have a 10-year useful life. It will cost $165,000 to ship and $85,250 to install the processor. A recently completed feasibility study that was performed at a cost of $65,000 indicated that the processor would produce a positive NPV. The processor will be depreciated using the straight-line method to zero expected salvage value. Studies have shown that employee-training expenses will be $125,000. What will be the annual depreciation expense of the processing line for capital budgeting purposes? A) $419,025 B) $390,000 C) $375,000 D) $400,025
Which of the following is not an objective of financial reporting by state and local governments?
A. To assist in determining compliance with finance-related laws, rules, and regulations. B. To assist financial report users in comparing actual financial results with the legally adopted budget. C. To assist users in assessing financial condition and results of operations. D. To assist users in assessing the adequacy of systems and controls.