Personal loans from family members or friends
A) are not good sources of financing.
B) are more expensive than loans from other sources.
C) should have a loan agreement in writing to avoid problems later on.
D) are not desirable from the lender's point of view.
Answer: C
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Negotiations are either integrative or distributive, but not both.
Answer the following statement true (T) or false (F)
A business's cash receipts and cash payments for a specific period are reported on a(n) ________.
A) income statement B) balance sheet C) statement of cash flows D) cash reconciliation statement
Spencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through petty cash instead of the voucher system. The journal entry to record establishing the account is:
A. Debit Cash $200 and credit Cash Over and Short $200. B. Debit Petty Cash $200; credit Cash $175; and credit Cash Over and Short $25. C. Debit Cash $200 and credit Petty Cash Over and Short $200. D. Debit Petty Cash $200 and credit Cash $200. E. Debit Cash $200 and credit Petty Cash $200.
Wedges in a pie chart are usually arranged clockwise in descending order or in another logical order, starting at 12 o'clock
Indicate whether the statement is true or false