Accountants are responsible for measuring various operating, investing and financing activities. Which of the following correctly matches the activity with its type?
A. Financing - selling equipment for cash.
B. Investing - paying utilities for the month.
C. Investing - purchasing land.
D. Operating - paying dividends to stockholders.
Answer: C
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Which of the following control activities should be taken to reduce the risk of incorrect processing in a newly installed computerized accounting system?
A. Segregation of duties. B. Adequately safeguard assets. C. Independently verify the transactions. D. Ensure proper authorization of transactions.
Which of the following statements about time orientation across cultures is most accurate?
A) North Americans generally correlate time with productivity, efficiency, and money. B) South Americans generally see keeping people waiting as rude and unprofessional. C) Asians generally are punctual and rush decisions to be more productive. D) Most cultures generally perceive time as limited in the workplace and therefore are punctual.
The second step in deciding how to best position a product is to clearly define the firm's ________ ________.
What will be an ideal response?
On January 1, Year 2 Grande Company had a $25,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During Year 2, Grande provided $86,000 of service on account. The company collected $82,500 cash from accounts receivable. Uncollectible accounts are estimated to be 2% of sales on account.What is the amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows?
A. $86,000 B. $80,850 C. $61,500 D. $82,500