Electronic fund transfers that begin at retailers when consumers want to pay for goods or services with debit cards are called point-of-sale systems
Indicate whether the statement is true or false
True
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When creditors provide funds to a firm, which of the following is/are true?
a. The firm must repay, usually with interest, in specific amounts at specific dates. b. Long-term creditors require repayment from the borrower over a period of time that exceeds one year. c. One common form of long-term financing is bonds. d. Suppliers of raw materials or merchandise that do not require payment for 30 days provide short-term funds. e. All of the above are true.
The manager of a profit center is responsible for generating revenues and managing the center's invested capital
Indicate whether the statement is true or false
Taking initiative, being optimistic and tolerating frustration well are all characteristics of an exceptional CSR.
Answer the following statement true (T) or false (F)
For managerial purposes, i.e., making decisions regarding the firm's operations, the standard financial statements as prepared by accountants under generally accepted accounting principles (GAAP) are often modified and used to create alternative data and metrics that provide a somewhat different picture of a firm's operations. Related to these modifications, which of the following statements is CORRECT?
A. The standard statements make adjustments to reflect the effects of inflation on asset values, and these adjustments are normally carried into any adjustment that managers make to the standard statements. B. The standard statements focus on accounting income for the entire corporation, not cash flows, and the two can be quite different during any given accounting period. However, the firm's value is based on its future cash flows because future cash flows indicate how much the firm can distribute to its investors. C. The standard statements provide useful information on the firm's individual operating units, but management needs more information on the firm's overall operations than the standard statements provide. D. The standard statements focus on cash flows, but managers should be less concerned with cash flows than with accounting income as defined by GAAP. E. The best feature of standard statements is that, if they are prepared under GAAP, the data are always consistent from firm to firm. Thus, under GAAP, there is no room for accountants to "adjust" the results to make earnings look better.