Which of the following is the best advice a person can follow about his or her money and personal finances?
A) Close your eyes and hope for the best.
B) Pay attention to it.
C) Do what your parents did at their age.
D) Keep earning more, and expenses will take care of themselves.
E) Credit cards will damage your financial reputation.
Answer: B
Explanation: B) People have to be realistic about their money to stay in good financial shape. Not paying attention results in unrealistic perceptions about one's finances, which can produce unfortunate outcomes. Tracking income and outgo is very important.
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If the average aggregate inventory value is $45,000 and the cost of goods sold is $10,000, which of the following is weeks of supply?
A. 23.4 B. 234 C. 120 D. 4.5 E. 45,000
Assuming no preferred stock exists, total stockholders' equity divided by the number of shares of common stock outstanding is equal to ________________________________________
Fill in the blank(s) with correct word
When the market value of inventory items has declined below their cost, which method would be the most appropriate in complying with GAAP?
A) Weighted average B) LIFO C) Lower-of-cost-or-market D) FIFO
What is the first step in the management by objectives (MBO) process?
A. Develop organization goals and metrics B. Develop department goals and metrics C. Review performance D. Add new inputs