Not taking advantage of cash discounts may have the same effect as paying a fairly large "interest charge."
Answer the following statement true (T) or false (F)
True
A discount of 2/10, net 30 may not look like much at first. But the buyer earns a 2 percent discount for paying the invoice just 20 days sooner than it should be paid anyway. By not taking the discount, the company in effect is borrowing at an annual rate of 36 percent. That is, assuming a 360-day year and dividing by 20 days, there are 18 periods during which the company could earn 2 percent. 18 × 2 = 36 percent a year. That's a fairly large interest charge to pay unnecessarily.
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Which of these three characteristics (I, II, and III) are required in order for a promised good or service to be considered distinct? Commercial substance Distinct within the context of the contract Capable of being distinct
A) I and II only B) I and III only C) II and III only D) I, II, and III
Completed but unsold units for a manufacturing firm would be included in which of the following accounts?
a. Pending-Sale Inventory b. Finished Goods Inventory c. Work in Process Inventory d. Materials Inventory
Accounts receivable is an asset account on the balance sheet.
Answer the following statement true (T) or false (F)
The General Manager (Scenario)Michael is the manager of a production facility. On a routine day, Michael meets with the employees who produce the organization's product. At another time, Michael meets with the production manager, Betty, and the human resource manager, Joyce, to discuss complaints filed by one of the employees in the production department. Michael also spends time on the Internet looking for new technologies that can be used in the production processes of his plant.When Michael meets with Betty and Joyce to discuss a complaint filed by one of the employees in the production department, he requires which of the following managerial skills?
A. technical skills B. human skills C. conceptual skills D. empirical skills