When the General Fund purchases water from an enterprise fund, the General Fund would credit expenditure.
Answer the following statement true (T) or false (F)
False
The journal entry would be a debit to Expenditures Control and a credit to a Due to Water Utility Fund.
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Cooperative purchasing organizations are firms that specialize in the purchasing function and provide this service to small businesses.
Answer the following statement true (T) or false (F)
At a canning factory, new employees were instructed to wear a certain type of clothes when working around the canning machine. The description of the clothes was very detailed and specific. Which of the following kinds of standing plans is described in this example?
A. Rules and regulations B. Purpose statements C. Policies D. Mission E. Budgets
Archer Co has decided it wants to expand into international business, but it is concerned about expropriation of its property or losses caused by political unrest. Archer is considering purchasing insurance through the Overseas Private Investment Corporation (OPIC). OPIC:
a. provides insurance, but the cost is relatively high. b. provides insurance, but the list of countries in which it is willing to provide such protection is fairly short. c. has had remarkable success at no cost to the U.S. government. d. insures against expropriation, but not against losses stemming from political violence.
Bell Brothers has $3,000,000 in sales. Fixed costs are estimated to be $100,000 and variable costs are equal to 50.00% of sales. The company has $1,000,000 in debt outstanding at a before-tax cost of 13.5%. If Bell Brothers' sales were to increase by 20.00%, how much of a percentage increase would you expect in the company's net income? Donotroundintermediatecalculations.
A. 19.68% B. 23.72% C. 27.98% D. 19.45% E. 21.34%