Operating activities:
A. Are also called asset management.
B. Are the means organizations use to pay for resources like land, buildings and equipment.
C. Involve using resources to research, develop, purchase, produce, distribute and market products and services.
D. Are also called strategic management.
E. Involve acquiring and disposing of resources that a business uses to acquire and sell its products or services.
Answer: C
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Payroll entries are made with data from the
a. wage and tax statement b. employee's earning record c. employer's quarterly federal tax return d. payroll register
Merry Company uses the cash basis of accounting. Merry Company made $600,000 in payments to its suppliers during the year. Merry's beginning inventory was $20,000, and its ending inventory was $35,000. In addition, Merry had a beginning accounts payable of $40,000 and an ending accounts payable of $70,000. What is Merry's cost of goods sold under the accrual basis of accounting?
A) $585,000 B) $600,000 C) $615,000 D) $625,000
In a periodic inventory system, the cost of merchandise purchased includes the cost of freight-in
Indicate whether the statement is true or false
Allison is a frontline employee at The Peabody Hotel. When customers are unsatisfied, she is able to handle many of the problems herself, without getting permission from her supervisors. As a result, Allison feels more satisfied with her job because of the freedom she has to problem solve on her own. The Peabody has done a good job of ________ ________.
A. Employee empowerment B. Keeping loyal customers C. Gathering crucial data D. Using social media E. Perfect fill-ordering