The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents$8,419Accounts receivable$70,422Merchandise inventories$60,362Prepaid expenses$4,100Accounts payable$14,950Notes payable$86,638Other current liabilities$9,500If net credit sales for the current year were $612,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
A. 85 days
B. 42 days
C. 70 days
D. 60 days
E. 154 days
Answer: B
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When the maturities of a bond issue are spread over several dates, the bonds are called
A) serial bonds B) bearer bonds C) debenture bonds D) term bonds
Pay-for-performance programs
A. tie rewards to firm profitability. B. are easy to implement and measure. C. tie rewards to employee effort. D. result in negligible increases in output.
The owner of the new Sharp Scissors hair salon gave coupons to potential customers walking by her store to stimulate interest and offer a trial of her new hair salon. The coupons are an example of
A. a channel of distribution. B. advertising. C. publicity. D. sales promotion. E. media.
A school is trying to determine a nutritional diet to feed its students. The school would like to offer some combination of milk and beans. The school’s objective is to minimize cost, subject to meeting the minimum nutritional requirements of protein, calcium, and calories. The cost and nutritional content of each food, along with the minimum nutritional requirements are shown here.
At the optimum solution, what is the cost of the nutritional diet?
a. $4.20
b. $3.55
c. $7.30
d. $8.25