Shield Life & Casualty has strictly defined job responsibilities and lines of communication. In this formal atmosphere, approval for any changes to standing procedures must be made by upper management. The firm has a
A. flat structure.
B. moderately decentralized structure.
C. high degree of centralization.
D. matrix design.
E. wide span of control.
Answer: C
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Information for evaluating vendor performance normally would reside on the:
a. accounts payable master data b. vendor master data c. vouchers payable master data d. purchase order master data
Expenses increase Owner's Equity
Indicate whether the statement is true or false
Which of the following accounts would be used under the accrual basis of accounting, but not under cash basis accounting?
A) Cash B) Unearned Revenue C) Service Revenue D) Salaries Expense
A company's net sales were $676,600, its cost of goods sold was $236,810 and its net income was $33,750. Its gross margin ratio equals:
A. 9.6%. B. 5%. C. 285.7%. D. 65%. E. 35%.