Management is needed in all types and sizes of organizations, at all organizational levels and in all organizational work areas, and in all organizations, no matter where they are located. This principle is known as the ________.
A. impartiality of management
B. neutrality of management
C. universality of management
D. reality of management
Answer: C
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The process of selling the assets, paying the liabilities, and distributing the remaining cash or other assets to the partners is known as ____________________
Fill in the blank(s) with correct word
Company A uses LIFO and Company B uses FIFO for inventory valuation. Otherwise, the firms are of similar size and have the same revenue and expense. Assume inflation. In analyzing liquidity and profitability of the two firms, which of the following will hold true?
a. It is impossible to compare two firms with different inventory methods. b. Company B will have relatively higher profit and higher inventory turnover. c. Company B will have relatively higher profit and lower inventory turnover. d. Company A will have a higher current ratio and acid test ratio, with the same profit. e. Company B will have relatively higher profit and a higher current ratio.
Plant assets not currently being used in business operations are classified as long-term investments.
Indicate whether the statement is true or false.
The profit margin for Division B is 8% and the investment turnover is 1.20. What is the rate of return on investment for Division B?
A) 8% B) 6.7% C) 7.3% D) 9.6%