James wants to open a small store that offers only products, knowledge and advice for those who like to build Hot Rods, Street Rods, and refurbish classic cars. Which of the following types of stores would most likely support an effective launch of his business idea?
A. off-price retailer
B. specialty store
C. full-discount store
D. general store
E. warehouse club
Answer: B
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Which of the following items should a company report directly in its monthly cash budget?
A. Cash proceeds from selling one of its divisions. B. Accrued interest on zero coupon bonds that it issued. C. New shares issued in a stock split. D. New shares issued in a stock dividend. E. Its monthly depreciation expense.
In the process of delegating, which of the following is the next step once a supervisor decides what tasks to delegate?
A. Assigning the work B. Creating an obligation C. Granting authority D. Following up
The payroll register of Burdick Travel Agency showed total employee earnings of $5,280 for the week ended June 7, 2019. Compute the employer's payroll taxes for the period. The tax rates are: Social security tax, 6.2 percent; Medicare tax, 1.45 percent; FUTA tax, 0.6 percent; SUTA tax, 2.2 percent. All earnings are taxable. Record the employer's payroll taxes for the period on page 4 of a general journal.
What will be an ideal response?
A firm has forecasted sales of $4,500 in April, $3,000 in May, and $5,000 in June. All sales are on credit. 30% is collected in the month of the sale, and the remainder in the following month. What will be the balance in accounts receivable at the end of June?
A) $1,950 B) $6,500 C) $4,550 D) $3,500