According to the text, which of the following four cash flows should be LAST in order of priority for a firm?
A) Cash to pay off debts in a timely fashion
B) Cash to maintain operations
C) Cash dividends
D) Cash for reinvesting
Answer: C
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The Work in Process Inventory account is found only in the ledgers of merchandising companies.
Answer the following statement true (T) or false (F)
At Acme Organization, meetings start on time and everyone is expected to arrive early. This unspoken rule about meetings represents a (n) ______ of the organization.
A. societal sanction B. norm C. script D. work group interaction
The CISG differs from the United States Uniform Commercial Code (UCC) in that the CISG ________
A. does not enforce unconscionable contracts B. requires that parties act in good faith C. defines goods as movable and tangible D. applies sales laws only to merchants
Any contract entered into by a corporation that goes beyond its powers is called an ultra vires contract
Indicate whether the statement is true or false