A resume must answer an employer's question "_________________________?"
a. why do you need a job
b. why do you want to work here
c. what can you do for me
d. why doesn't someone else hire you
c
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During the year, Dempsey Corporation's current ratio increased while its quick ratio decreased. Which of the following could help explain this situation?
a. A decrease in accounts receivable during the year b. An increase in accounts payable during the year c. The sale of short-term investments during the year d. An increase in inventory levels during the year
On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Klein uses the perpetual inventory system and the gross method of accounting for sales. On March 15, Babson returns some of the merchandise. The selling price of the merchandise is $600 and the cost of the merchandise returned is $350. Babson pays the invoice on March 20, and takes the appropriate discount. The journal entry that Klein makes on March 20 is:
A.
| Cash | 7,056 | |
| Accounts receivable | 7,056 |
B.
| Cash | 7,644 | |
| Sales discounts | 156 | |
| Accounts receivable | 7,800 |
C.
| Cash | 7,800 | |
| Accounts receivable | 7,800 |
D.
| Cash | 7,056 | |
| Sales discounts | 144 | |
| Accounts receivable | 7,200 |
E.
| Cash | 4,500 | |
| Accounts receivable | 4,500 |
Which of the following resulted when Mervyn's was acquired by a private equity firm?
a. Its profits increased b. Its rent increased c. It was able to expand operation d. It was able to work with its private equity holders
Allen imports furniture from China. He travels to his suppliers' businesses three times a year to inspect how the furniture is made, the conditions at the factory, and how much workers are paid. When he is satisfied that the supplier meets his standards for humanitarian treatment of workers and ethical work practices, he places an order for furniture to be made by the company. The suppliers usually require part of the payment upfront or proof that payment will be made on delivery. Because Allen has been in business for many years, and has used the same bank for his business for the entire time he has been in business, he works out an agreement with his banker that the bank will advance him funds for a short-term at prime interest rate plus two percent. What kind of transaction did Allen
enter into with the bank? A. Trade credit B. Promissory note C. Unsecured bank loan D. Commercial paper