A(n) ______ is a type of legal claim (lien) against a firm's inventory when it is used as collateral for a loan and the goods are relatively low priced, fast moving, and difficult to identify individually.
A. recourse order
B. bond indenture
C. trust receipt
D. warehouse receipt
E. blanket lien
Answer: E
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The accounts receivable clerk destroys all invoices for sales made to members of her family and does not record the sale in the accounts receivable subsidiary ledger. Which procedure will not detect this fraud?
a. prenumber and sequence check all invoices b. reconcile the accounts receivable control to the accounts receivable subsidiary ledger c. prepare monthly customer statements d. reconcile total sales on account to the debits in the accounts receivable subsidiary ledger
An emphasis on being the best, accomplishing the “numbers,” which dimension of organizational culture does personal initiative and competitiveness characterize?
a. order and consistency b. achievement c. clan d. adaptability
Fact Pattern 16-1BBayside Construction Company enters into a contract with Clio to remodel Dewey's Home Store, using products from Eagle Building Supplies. Fresh Food Café is next to Dewey's Home Store.Refer to Fact Pattern 16-1B. Eagle will realize a profit from the sale of products to Bayside to remodel Dewey's store. Eagle is
A. a delegatee. B. an assignee. C. an incidental beneficiary. D. an intended beneficiary.
For a resource to provide a firm with the potential for a sustainable competitive advantage, it must have four attributes. Which of the following is not one of these attributes?
A. rare B. easy for competitors to substitute C. valuable D. difficult for competitors to imitate