Amy makes use of the Galatea effect when she says to herself
A) "Whatever results I achieve will be good enough."
B) "I intend to be one of the best performers in the company this year."
C) "Life is beautiful if you stop to smell the roses."
D) "If I set my goals low enough, I know I will succeed."
Answer: B
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Which of the following adjusting entries would be the most likely to be reversed?
A) Depreciation Expense 1,500Accumulated Depreciation 1,500 B) Unearned Rent 700Rent Revenue 700 C) Insurance Expense 800Prepaid Insurance 800 D) Income Tax Expense 950Income Taxes Payable 950
If a business records revenues when earned, regardless of whether cash has been received, and records expenses when they are incurred, the accounting system is a(n)
a. cash basis of accounting; b. accrual basis of accounting; c. modified cash basis of accounting; d. either A or B; e. either B or C
The inventory turnover ratio is calculated as:
A. Ending inventory divided by cost of goods sold. B. Cost of goods sold divided by ending inventory times 365. C. Cost of goods sold divided by average merchandise inventory. D. Cost of goods sold divided by ending inventory. E. Sales divided by cost of goods sold.
If you view your employer's instructions or influence as improper, then you should most likely:
A) report your company to your industry's governing body B) do what everyone else is doing C) compromise your values in order to keep your job D) voice opposition to the practice if it is in conflict with your value system E) follow the lead of your colleagues