Assume that the direct method is used to prepare the operating activities section of the statement of cash flows. Which related balance sheet account will explain the difference between revenues on the income statement and cash collected from customers?
A. Accounts Receivable
B. Accounts Payable
C. Inventory
D. Cost of Goods Sold
Answer: A
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The fixed overhead application rate is a function of a predetermined activity level. If standard hours allowed for good output equal the predetermined activity level for a given period, the volume variance will be
a. zero. b. favorable. c. unfavorable. d. either favorable or unfavorable, depending on the budgeted overhead.
Notes, bonds, leases and derivatives are _____
a. present values of future cash flows b. financial instruments c. collateralized debt obligations d. unsecured debt obligations e. investment trusts
Tim Hughes is a salesperson for Allied Pets Inc., a company that sells veterinarian supplies. He is working on a needs assessment for East Athens Veterinary Clinic. What information will he need to find out about East Athens?
What will be an ideal response?
Concise Language Improves the Quality of a Résumé Interviewers quickly scan a résumé in about 40 seconds to learn about a job candidate's skills, accomplishments, and attributes. Because interviewers spend such a short time reading résumés, the
writing must be direct and simple. Victor, a recent college graduate, designs a résuméand writes the following statements in his résumé to describe his accomplishments. a) I was a receptionist at a doctor's private practice. My work included taking appointments, filing charts, answering phones, and running errands. b) I was a sales person at a hardware store and was selling windows, doors, and tools and providing other customer services. I eventually became a manager at the hardware store. My responsibilities were ordering products and supplies, as well as supervising five employees. c) I spent two summers working at the university's admission office, showing prospective students around the campus and answering phone calls and performing other clerical duties. d) I was a summer camp counselor for special children. My responsibilities included handling special activities and providing daily assistance to kids as required. Required: Rewrite the work experience section of Victor's résumé to make it more effective.