Assume that on December 1, a $3,000, 90-day, 10 percent note receivable was received from a customer as an extension of his of past – due account. The entry that would be made to record the note is:
a. Notes receivable 3,000
Cash 3,000
b. Notes receivable 3,000
Interest Income account 3,000
c. Notes receivable 3,000
Accounts receivable 3,000
d. Cash 3,000
Accounts receivable 3,000
C
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What financial statement ratios facilitate the measurement of a company's effectiveness in collecting cash from customers?What is measured by each of these ratios? How should each of these ratios be interpreted?
What will be an ideal response?
The purpose of gap insurance is to
A) pay the difference between the bodily injury liability limit purchased and the actual amount of bodily injury liability if it exceeds the limit. B) pay the difference between the amount the insurer pays if a car is a total loss and the remaining amount owed on a lease or car loan. C) pay the difference between the medical payments coverage limit and the actual medical expenses of injured family members or passengers in the insured auto. D) pay the difference between the uninsured motorists coverage limit and the actual amount of the medical expenses incurred by the insured.
Which of the following is an example of an e-commerce first mover that failed?
A) Etsy B) eToys C) eBay D) E*Trade
According to Keil and Robey (1999), a common pitfall in monitoring the risks of a project already underway is:
A) relying too heavily on the use of consultants. B) failing to increase the resources working on the project. C) ignoring negative feedback. D) all of the above