Sylvia draws a check on ABC Bank payable "to the order of Willow Watson." Willow indorses it and deposits it in First Bank. First Bank is a:
A) drawee bank.
B) collecting bank.
C) payor bank.
D) neighborhood bank.
B
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Assume the current ratio is 3 to 1 . Estimating the warranties expense on the period's sales would cause the current ratio to
a. increase b. decrease c. be unchanged since the effects offset one another d. be unchanged since it has no effect on any current accounts
What are two broad choices when it comes to a new venture’s competitive advantage?
a. Low price or high price b. Customer service or high price c. Cost advantage or non-cost-differentiation advantage d. Trade secrets or cost advantage
A manager attempts to resolve a conflict by seeking an advantageous solution for all the parties involved. This conflict management technique is called accommodating.
Answer the following statement true (T) or false (F)
Uncle's Caps, Inc, a merchandising company, has provided the following budgeted amounts for the next budget period
Beginning cash balance $30,400 Cash collections 683,000 Payments for: Purchases of merchandise inventory 349,400 Selling and administrative expenses 70,700 Capital expenditures 88,600 A minimum cash balance of $250,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the needed funds at the end of the period. Calculate the ending cash balance for the budget period. A) $713,400 B) $254,700 C) $204,700 D) $733,000