According to research, between 50 and 90 percent of all new businesses fail within five years because of
A. poor target marketing.
B. insufficient investment capital.
C. managerial incompetence.
D. unethical business practices.
Answer: C
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On January 1, 2014, the Accounts Receivable and the Allowance for Uncollectible Accounts for Darius Company carried balances of $20,000 and $550 respectively. During the year, the company reported $70,000 of credit sales. There were $400 of receivables written off as uncollectible in 2014 . Cash collections of receivables amounted to $74,700 . The company estimates that it will be unable to
collect 5% of the year-end accounts receivable balance. The amount of bad debts expense recognized in the 2014 income statement will be: a. $545 b. $595 c. $745 d. $795
Data cleansing is a step performed by external auditors to identify and repairing invalid data prior to the audit
Indicate whether the statement is true or false
An example of a simple statement of purpose for a business report might be To recommend a new procedure for preparing quarterly financial statements
Indicate whether the statement is true or false
Which of the following is NOT one of the financial statements that must be produced by a public company?
A) the balance sheet B) the income statement C) the statement of cash flows D) the statement of activities