Burke Inc's accounts receivable balance increased during the year from $300,000 to $360,000. Based on this information, which of the following statements is true?
A) Cash received from customers was greater than sales revenue recorded during the year.
B) Cash received from customers was less than sales revenue recorded during the year.
C) Cash received from customers was exactly equal to sales revenue recorded during the year.
D) Cash received from customers was higher than cash paid to suppliers during the year.
B
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Within the context of organizations, what do egoism and social group relativism have in common?
a. The more politically powerful party is likely to get the scarce resource. b. Self-interest plays less of a role than does departmental interest. c. Cultural rules dominate ethical decision making. d. Parties tend to apply the same standards to different individuals or groups.
Professionals such as doctors and lawyers display their degrees and certifications because ____________
a. they want to build personal relationships with their clientele and generate a moment of truth. b. they want customers to "see" their credentials that qualify them to provide the service. c. they want to provide detailed information about their core values. d. they want to provide a visual example of their prowess and enhance experiential attributes. e. These items act as an advertisement that highlights important aspects of their company.
The balance sheet shows ______.
a. what the business owns and what the business owes b. only net worth c. current expenses d. shareholder deferred revenue
The average inventory at Hamilton Industries, comprising raw materials, work-in-process, and finished goods, was found to be $17.2 million last year
If the cost of goods sold per week averaged $1.32 million, what was the inventory turnover experienced by Hamilton Industries? Assume the company had 50 working weeks per year. A) less than or equal to 3.50 B) greater than 3.50 but less than 3.75 C) greater than 3.75 but less than 4.00 D) greater than 4.00