The following items were reported on the balance sheets and income statement for Centerton Inc, a service company: Accounts payable, December 31, 2015 $ 64,000 Accounts payable, December 31, 2016 48,000 Operating expenses—2016 170,000 What amount would be reported in the operating activities section of the statement of cash flows for payments for operating expenses under the direct method?
a. $186,000
b. $154,000
c. $180,000
d. $170,000
a
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In anticipation of tax season, Micah is working with the organization’s tax preparers to determine their knowledge of current tax laws. Micah’s goal is to make sure the tax preparers can deliver excellent customer service in alignment with the company’s goals. If he finds they cannot provide this service, he will implement training to bring everyone up to speed. What Micah is conducting is a ______.
A. competency model B. remediation C. training D. needs assessment
In an agency by ratification, the agent is relieved of any liability for misrepresentation.
Answer the following statement true (T) or false (F)
Which of the following statements is false regarding a company's budgeted financial statements?
A) They are used for internal planning purposes. B) They are often called pro forma financial statements. C) Lending institutions should not use them as a basis for granting a loan. D) An error in the preparation of one budget often affects one or more other budgets.
Which one of the following statements concerning production and staffing plans is BEST?
A) Aggregation can be performed along three dimensions: product families, labor, and time. B) A staffing plan is the intermediate link between the business plan and the master production schedule. C) Production plans are based primarily on information from the master production plan. D) A master production schedule is a projected statement of income, costs, and profits.