Electronic commerce reduces the speed and accuracy with which businesses can exchange information
a. True
b. False
Indicate whether the statement is true or false
False
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Employees at Atkins Inc. are frustrated with their manager, Kyle, who does not believe in providing feedback because he thinks it's a waste of time. His employees argue that they do not know how to hone their skills if they are not told what areas they should work on and what areas are satisfactory. Which statement would strengthen the employees' arguments?
A. Evaluating each employee is a herculean task that would require a lot of time and effort. B. Employees who receive feedback gain more clarity on their roles and how they fit within an organization. C. Kyle only hires employees who have the potential to follow through on his high expectations. D. Employees ought to evaluate themselves because self-assessment is the best type of feedback. E. Feedback is not an effective mechanism because employees can choose to reject the constructive information.
Assume that Healthy Lawn Maintenance estimates that it will not collect 2% of total credit sales in a given month. At the end of each month, it makes an adjusting entry. The aggregate effect of these entries during 2013 is as follows:
a. Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000 Accounts Receivable, net. . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40,000 b. Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000 Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000 c. Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000 Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40,000 d. Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000 Accounts Receivable, gross . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40,000 e. Accounts Receivable, gross . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000 Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000
A disadvantage of static budgets is that they:
A) start with a clean slate B) cannot be used by service companies C) do not show possible changes in underlying activity levels D) show the expected results of a responsibility center for several levels of activity
Which of the following is true of a business operating under sole proprietorship?
A. It is not considered a separate legal entity. B. It cannot be sold when the owner decides to do so. C. It requires governmental approval when being transferred. D. It has access to unrestricted capital by means of investments.