When a notes receivable is discounted, the business that endorses the note becomes potentially liable to the bank. This liability is called a
a. potential liability.
b. dependent liability.
c. conditional liability.
d. contingent liability.
d
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Under the direct and indirect methods of reporting the statement of cash flows, only
a. the operating activities section is different. b. the financing activities section is different. c. the investing activities section is different. d. the operating and financing activities sections are different.
A good example of a quantitative planning tool is ______.
a. scenario planning b. the Delphi technique c. brainstorming d. statistical forecasting
Which of the following has the primary function of helping a company target and promote its products to the right markets?
A) Marketing services agencies B) Resale marketers C) Service providers D) Physical distribution firms E) Credit companies
Iowa Cattle Company uses a periodic inventory system. Iowa purchased cattle from Big D Ranch at a cost of $27,000 on credit. The entry to record the receipt of the cattle would be
a. Purchases ........................... 27,000 Accounts Payable .................. 27,000 b. Inventory ........................... 27,000 Accounts Payable .................. 27,000 c. Purchases ........................... 27,000 Cash .............................. 27,000 d. Inventory ........................... 27,000 Cash .............................. 27,000