Erick's Transition ? Erick is currently a manager of a small financial planning firm. He is seeking a new career with a large corporation in the banking industry. He recently applied for the financial manager opening at G & T Bank. He is concerned that the transition from his small firm to a large corporation will be difficult. To better prepare himself for this change, he has decided to enroll in a few business classes to strengthen his understanding of corporate finance. The business classes have proven to be a valuable tool for learning the critical skills needed to fully understand a financial plan, equity financing, and debt financing. Erick now believes he has strengthened his competitive advantage in his quest for the job. Refer to Erick's Transition. Erick's business classes
taught him that the financial manager should do which of the following?
A. Determine the best way to raise money.
B. Ensure the business success of the company.
C. Ensure that projected uses are in keeping with the organization's goals.
D. Both A and B.
E. Both A and C.
Answer: E
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Valley Spa purchased $9400 in plumbing components from Tubman Co. Valley Spa signed a 60-day, 12% promissory note for $9400. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry to record the dishonored note? (Use 360 days a year.)
A. Debit Bad Debt Expense $9588; credit Accounts Receivable $9588. B. Debit Bad Debt Expense $9400; credit Notes Receivable $9400. C. Debit Accounts Receivable-Valley Spa $9588, credit Interest Revenue $188; credit Notes Receivable $9400. D. Debit Accounts Receivable-Valley Spa $9400; credit Notes Receivable $9400. E. Debit Accounts Receivable $9588; debit Bad Debt Expense $188; credit Notes Receivable $9400.
In which of the following promotion tools does a customer send a proof of purchase to a manufacturer, who then refunds part of the purchase price by mail?
A) rebate B) coupon C) sample D) premium E) price pack
All of the following are ways to create psychological balance and achieve closure to your speech, EXCEPT
a. introducing a new point. b. asking the same rhetorical question you did in the introduction. c. reusing a theme introduced in the beginning of the speech. d. referring back to a previous story.
A pedestrian trips and falls on a poorly lit sidewalk in front of Kate Geller's house and is injured. If the pedestrian sues for damages, which of the following parties would most likely be liable to pay the damages?
A. the civic authority B. Kate Geller C. the residents' association of the locality D. the pedestrian