The major potential advantage of outsourcing is
A. increased cost savings.
B. increased absenteeism.
C. an increased compa-ratio.
D. an increased turnover rate.
Answer: A
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Malcolm Corporation purchased an insurance policy for three years beginning January 1, Year 2, and recorded the $6,000 premium in the Prepaid Insurance account. What adjusting entry is required to reflect the proper balances, in the insurance-related accounts at year-end, on December 31, Year 2?
a. Insurance Expense 2,000 Prepaid Insurance 2,000 b. Prepaid Insurance 2,000 Insurance Expense 2,000 c. Insurance Expense 4,000 Prepaid Insurance 4,000 d. Prepaid Insurance 4,000 Insurance Expense 4,000 e. Insurance Expense 6,000 Prepaid Insurance 6,000
The EOQ formula considers the ______.
A. ordering costs, holding costs, and quantity discounts B. holding costs and quantity discounts C. ordering costs and quantity discounts D. ordering costs and holding costs
According to the authors of Designing for Growth, what question encourages you to imagine all of the possibilities without regard to the reality of the ideas?
a. What is? b. What if? c. What wows? d. What works?
What is the proper adjusting entry at December 31, the end of the accounting period, if the balance in the prepaid insurance account is $7,750 before adjustment, and the unexpired amount per analysis of policies is $3,250?
A. Debit Insurance Expense, $4,500; credit Prepaid Insurance, $4,500. B. Debit Prepaid Insurance, $4,500; credit Insurance Expense, $4,500. C. Debit Insurance Expense, $7,750; credit Prepaid Insurance, $7,750. D. Debit Cash, $7,750; Credit Prepaid Insurance, $7,750. E. Debit Insurance Expense, $3,250; credit Prepaid Insurance, $3,250.