Which of the following is the focus for the statement of cash flows?
a. Cash
b. Cash and cash equivalents
c. Current assets
d. Working capital
e. None of the answers are correct.
B
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Selena located an excellent office location and she and Ian rented the office space. Selena uses 30% of the space solely for her business; Ian uses 40% of the space solely for his business. The remainder is shared equally by both. How should the total rent and other space expenses be allocated?
a. 30% to Selena; 40% to Ian b. 45% to Selena; 55% to Ian c. 50% to Selena; 50% to Ian d. 30% to Selena; 40% to Ian; 30% to Building Expense
Total quality management involves all employees, regardless of their function, in continual quality improvement efforts
Indicate whether the statement is true or false
Olly Company is a merchandising business that sells dog food. Based on the following information, what is the gross margin for Olly Company?Sales Revenue$500,000 Cash 100,000 Accounts Receivable 50,000 Inventory 25,000 Cost of goods sold 300,000 Operating expenses 40,000
A. $160,000 B. $200,000 C. $135,000 D. $285,000
After-tax cash flow is minimized when a business operates as a passthrough entity rather than a taxable corporation.
Answer the following statement true (T) or false (F)