________ basis accounting means that revenues are recognized when cash is received and that expenses are recorded when cash is paid. ________ basis accounting means that the financial effects of revenues and expenses are recorded when earned or incurred.
What will be an ideal response?
Cash; Accrual (answers must appear in this order)
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A profit-volume graph visually portrays the relationship between
A) total sales and total cost. B) profits and units sold. C) fixed costs and variable costs. D) total sales and units sold. E) operating income and variable costs.
Referring to Gerald's Produce, what are Gerald's total cash outflows (disbursements) in February?
A) $2,500 B) $3,100 C) $7,500 D) $8,100 E) $10,600
Which one of the following is NOT a trading cost?
A) payment of brokerage commissions and other fees B) The investor must buy from the trader at the trader's high sell price and must sell to the trader at the trader's low bid price. C) When the market is not very liquid, and an investor's trade is a relatively large one, it can adversely affect the price the investor gets. D) The price on the trade falls when the investor buys or rises when the investor sells.
A manufacturing company wants to determine if a new machine produces parts with fewer defects than the current machine. What are the null and alternative hypotheses?
a. Ho: There is no difference in the performance of the machines; Ha: The new machine produces parts with fewer defects than the old machine.
b. Ho: The new machine produces parts with fewer defects than the old machine; Ha: There is no difference in the performance of the machines.
c. Ho: The new machine produces parts with fewer defects than the old machine; Ha: The new machine produces parts with more defects than the old machine.
d. Ho: There is no difference in the performance of the machines; Ha: The new machine produces parts with more defects than the old machine.