A purchase is recognized in the accounting records when
a. payment is made for the item purchased.
b. the purchase requisition is sent to the purchasing department.
c. title transfers from the seller to the buyer.
d. the buyer receives the seller's bill.
C
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According to the text, primary data are an economical and quick source of background information
Indicate whether the statement is true or false
Evaluating a bad-news message ________
A) is a good idea, but not vital B) involves only the typical evaluating questions that should be used to evaluate any type of message C) is less important than it is for other types of messages, as there is nothing you can do to alter the fact that your audience won't be receptive to bad news D) should include determining if the message communicates a sense of goodwill to the audience and whether it will achieve a good business result E) should only be done if there is time to spare, since bad-news messages are often very time sensitive
Which of the following statements is FALSE? Affirmative action
A) often benefits minorities B) is required under the Charter of Rights and Freedoms C) is legal under provincial Human Rights Codes D) permits programs to discriminate now to make up for past discrimination against certain groups E) can permit special hiring policies that may give an advantage to femal applicants
Steve Coleman has just won the state lottery and has the following three payout options for after-tax prize money
1. $166,000 per year at the end of each of the next six years 2. $306,000 (lump sum) now 3. $518,000 (lump sum) six years from now The annual discount rate is 9%. Compute the present value of the second option. (Round to nearest whole dollar.) Present value of $1: 8% 9% 10% 1 0.926 0.917 0.909 2 0.857 0.842 0.826 3 0.794 0.772 0.751 4 0.735 0.708 0.683 5 0.681 0.650 0.621 6 0.630 0.596 0.564 7 0.583 0.547 0.513 A) $684,000 B) $103,600 C) $414,400 D) $306,000