Under the modified cash basis,
a. there are no prepaid assets; b. there are
no long-term assets; c. expenses are recognized when incurred; d. there is no accounts receivable account; e. the accounts payable account is used to
recognize all services received on account.
D
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Define net realizable value. How is net realizable value affected when a receivable is written off under the allowance method?
What will be an ideal response?
Which of the following scenarios is a good example of the proper implementation of a manager’s open-door policy?
a. A manager keeps the door closed to maintain efficiency but makes the rounds with employees regularly to ask if there are any problems. b. A manager keeps the door open for any concerns but closes it when an employee comes in to maintain privacy. c. A manager keeps the door open even when a person comes in to discuss a concern to make sure there is nothing hidden within a department. d. A manager keeps the door closed but encourages employees to be open and honest with each other.
________ is the set of values and the norms of behavior which are approved or sanctioned by a particular society.
A. Social structure B. National culture C. Social stratification D. Cultural pluralism E. Organizational culture
For B2B salespeople, usually the easiest sale is a(n) ________ situation.
A. adapted buy B. generic buy C. straight rebuy D. modified rebuy E. new buy