Why would a company establish a petty cash fund?
What will be an ideal response?
Companies frequently establish a petty cash fund to maintain effective control over small cash disbursements.
Although businesses use checks for most disbursements, they often pay for small items such as postage, delivery charges, taxi fares, employees' supper money, and so on with currency. They frequently establish a petty cash fund to maintain effective control over these small cash disbursements.
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The term "jargon" refers to
a. inoffensive expressions that are used in place of offensive words. b. competitive conversations that are generally in jest. c. technical terminology used within specialized groups. d. nonverbal signals that are believed over what is actually said.
Which statement about bailment is false?
a. valet parking is usually a bailment. b. self parking is usually not a bailment. c. a bailment contract must be an expressed contract. d. a bailment must involve personal property.
The Boyles Ceramics, Inc established a line of credit with a local bank. The maximum amount that
can be borrowed under the terms of the agreement is $1,000,000 at an annual rate of 8 percent. A compensating balance averaging 25 percent of the amount borrowed is required. Prior to the agreement, Boyles had no deposit with the bank. Shortly after signing the agreement, Boyles needed $240,000 to pay off a note that was due. It borrowed the $240,000 from the bank by drawing on the line of credit. What is the effective annual cost of credit? A) 8.85% B) 12.50% C) 11.11% D) 10.67%
The ________ of a variable is the period during which it exists in memory
a) scope b) recursion c) duration d) length