Ford Motor Co. has separate divisions for passenger cars, for large trucks, and for farm products. Ford is an example of an organization with
A. geographic divisions.
B. customer divisions.
C. matrix partitions.
D. a decentralized management structure.
E. a global corporate culture.
B. customer divisions.
Customer divisions tend to group activities around common customers or clients, such as types of products.
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Financial statements should be prepared before any adjustments are made
a. True b. False Indicate whether the statement is true or false
Cloud Solutions had the following accounts and balances as of December 31:AccountDebit CreditCash$20,000 Accounts Receivable 2,000 Salaries Expense 500 Accounts Payable $4,000 Lodging Revenue 7,000 Utilities Expense 500 Prepaid Insurance 1,400 Supplies 1,500 Common Stock 14,900 Totals$25,900 $25,900 Using the information in the table, calculate the total assets reported on the balance sheet for the period.
A. $25,900. B. $23,400. C. $22,500. D. $25,400. E. $24,900.
The costs of nonconformance are made up of
A) prevention costs and appraisal costs. B) internal failure costs and external failure costs. C) vendor performance and customer satisfaction. D) product design and production performance.
Venus, Inc. paid $12,000 on accounts payable. How does this transaction affect the accounting equation of Venus?
A) assets decrease by $12,000 and equity increases by $12,000 B) assets decrease by $12,000 and liabilities decrease by $12,000 C) assets increase by $12,000 and equity decreases by $12,000 D) assets increase by $12,000 and liabilities increase by $12,000