The time interval between paying for raw materials and collecting on sales of finished goods is known as the:
A) accounts receivable cycle
B) inventory cycle
C) cash conversion cycle
D) matching cycle
Answer: C) cash conversion cycle
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The journal entry to close the capital account includes
a. debiting the expense accounts and crediting the income summary account; b. debiting the income summary account and crediting the expense accounts; c. debiting the expense accounts and crediting the capital account; d. debiting the revenue accounts and crediting the capital account; e. none of these.
When developing a strong résumé, the planning, writing and completing process should all be done at one time
Indicate whether the statement is true or false.
Noah has decided to present his informative speech on personality disorders. He discovers through his research there are three main categories of these disorders. Which organizational pattern would be the most logical choice for Noah’s speech?
a. chronological b. topical c. Monroe’s Motivated Sequence d. problem-cause-solution
Simon is an attorney who has been hired by Naptune, Inc to defend against claims of profiteering. While discussing the charges with Mark, who is an employee of Naptune, Simon learns that Naptune is about to engage in profiteering again
In this scenario, which of the following statements is true? A) Simon is legally obliged to inform the police about any future criminal activities of Naptune, Inc. B) Simon cannot legally include this information in his work product and inform the court. C) Simon can only divulge this information to the police if Mark explicitly permits it. D) Simon can include this in the work product, but can choose not to inform the authorities.