Answer the following statements true (T) or false (F)
1. After comparing budgets with the actual results, the feedback allows managers to determine what, if
any, corrective action should be taken.
2. Budgeting requires managers to develop overall business goals and budget for specific actions to
achieve the goals.
3. Budgets provide a benchmark that motivates employees and helps managers evaluate performance.
4. Developing a budget reduces coordination and communication at different levels in an organization.
5. budget represents the plans that a company has in place to achieve its goals.
1. TRUE
2. TRUE
3. TRUE
4. FALSE
5. TRUE
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A law firm collected $1,800 on account for work performed in the previous month. Which of the following general journal entries will the firm make to record this collection of cash?
A. Debit Cash, $1,800; credit Accounts Receivable, $1,800. B. Debit Accounts Receivable, $1,800; credit Legal Fees Revenue, $1,800. C. Debit Legal Fees Revenue, $1,800; credit Accounts Receivable, $1,800. D. Debit Cash, $1,800; credit Unearned Legal Fees Revenue, $1,800. E. Debit Accounts Receivable, $1,800; credit Unearned Legal Fees Revenue, $1,800.
Trade sales allow the purchaser to:
A. Diversify their core business B. Acquire new resources C. Expand to new markets D. All of the above
Explain the types of activities that are considered to be horizontal restraints of trade
What will be an ideal response?
You are reading an article in The Wall Street Journal that discusses the research findings of a Centers for Disease Control study on workplace hazards. This newspaper article is an example of primary data
Indicate whether the statement is true or false