If X and Y are independent random variables, which of the following identities is false?
A) Cov(X, Y) = 1
B) Cov(X, Y) = 0
C) E(X + Y) = E(X) + E(Y)
D) Var(X + Y) = Var(X) + Var(Y)
A
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Through the competitive budget method, the ad budget is set to match the percentage of sales budget of an important competitor
Indicate whether the statement is true or false
The following journal entry was included in the accounting records of Jonase, Inc Feb. 11 Cost of Goods Sold 7,000 Inventory 7,000 This entry is needed when Jonase records the:
A) cost of merchandise sold. B) sales price of merchandise sold. C) cost of merchandise returned by a customer. D) net effect of a sales transaction.
On December 31, the Jacob, Inc. general ledger contained the following balances prior to write-offs and adjustments:
Trade Accounts Receivable$ 623,450 Allowance for Doubtful Accounts15,800 (credit)Net Credit Sales2,529,000 Before completing an aging analysis to determine the estimated amount uncollectible, Jacob decided to write off $7,500 of an account past due over 360 days.Aging of the accounts receivable balance after the write-off on December 31 indicated the following: Estimated Percentage AgeAmount Uncollectible Under 30 days $358,900 1.5% 30-90 days 134,000 3.0% 91-180 days 96,000 7.0% 181-360 days 22,700 20.0% Over 360 days 4,350 60.0% $615,950 Required: a.Prepare the necessary journal entry to record the write-off.b.Prepare the adjusting journal entry at December 31 to record Jacob, Inc.'s estimated bad debts assuming that the company uses the aging of accounts receivable method.c.What is the net realizable value of accounts receivable on the December 31 balance sheet? What will be an ideal response?
Strategy-making is
A. first and foremost the function and responsibility of a company's strategic planning staff. B. primarily the responsibility of key executives rather than a task for a company's entire management team. C. first and foremost the function and responsibility of a company's board of directors. D. first and foremost the function of a company's chief executive officer, who formulates strategic initiatives and submits them to the board of directors for approval. E. more of a collaborative group effort that involves all managers and sometimes key employees, as opposed to being the function and responsibility of a few high-level executives.