What duties and functions does a financial manager perform? Why is financial management important?
What will be an ideal response?
The financial manager of any firm, large or small, is responsible for maintaining the proper flow of funds into and out of an organization. The financial manager must identify the various needs for funds, and appropriate sources for those funds. If the organization has excess cash, the financial manager must identify appropriate investments for that cash. Basically, the financial manager is vitally important to the survival and growth of an organization.
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Explain the purpose of the parol evidence rule.
What will be an ideal response?
Workers' compensation laws put liability for injuries occurring within the scope of employment on the employer based on the degree of fault.
Answer the following statement true (T) or false (F)
The primary use of scanner volume-tracking data is to forecast sales
Indicate whether the statement is true or false
Southeastern Company sold merchandise for $4,450 to Northern Company on account. The cost of goods sold was $1,185. Southeastern Company uses a perpetual inventory system and special journals. The $4,450 is recorded as ________.
A) an entry in the general journal B) Accounts Receivable DR, Sales Revenue CR column of the sales journal C) Merchandise Inventory DR column of the purchases journal D) Accounts Receivable CR column of cash receipts journal