The revenue cycle has two subsystems. What are they and what occurs within each?
The two subsystems of the revenue cycle are sales order processing and cash receipts. In the sales order processing subsystem, the sales order is processed, credit granted, goods are shipped, customer is billed, and related files updated (sales, accounts receivable, inventory, etc.). In the cash receipts subsystem, cash is collected and deposited in the bank and files updated (cash, accounts receivable, etc.).
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Governed by the freedom-to-contract doctrine, United States courts throughout the nineteenth century generally refused to interfere in contractual relations merely because one party was more economically powerful or better able to drive a hard
bargain. Indicate whether the statement is true or false
Fager Clinic uses client-visits as its measure of activity. During February, the clinic budgeted for 2310 client-visits, but its actual level of activity was 2360 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for February:Data used in budgeting: Fixed element per monthVariable element per client-visitRevenue - $69.30? Personnel expenses$33,400? $22.60?Medical supplies 2300? 13.60?Occupancy expenses 10,800? 4.50?Administrative expenses 6100? 1.20?Total expenses$52,600? $41.90??Actual results for February: ?Revenue$167,210? Personnel expenses$82,645??Medical supplies$32,305??Occupancy expenses$19,000??Administrative
expenses$7215????The revenue variance for February would be closest to: A. $3662 F B. $7127 U C. $3662 U D. $7127 F
Which of the following is a key attribute of the low-cost leadership strategy?
A) providing unique add-ons to supplement the products or services B) focusing on a specific market segment C) optimizing the value chain by eliminating unwanted expenditures D) offering products and services with superior qualities
Being a professional does not mean selling out your cultural or ethnic heritage. 11. Seeking a mentor is seen as a negative move one in which an employee needs
Indicate whether the statement is true or false.