What entry is required in the company's accounts to record outstanding checks?
A) debit Accounts Receivable; credit Cash
B) debit Cash; credit Accounts Receivable
C) debit Cash; credit Accounts Payable
D) none
D
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A company issues periodic reports called
A. audits. B. summaries. C. financial statements. D. tax returns.
At Forrest Industries, all sales are on account. Sienna Marcos is responsible for mailing invoices to customers, recording the amount billed, opening mail, recording the payment, and making deposits to the bank. Sienna is very devoted to the family
business and never takes off more than one or two days for a long weekend. The customers know Sienna and sometimes send personal notes with their payments. Another clerk handles all aspects of accounts payable. Sienna's brother, who is president of Forrest Industries, has hired an accountant to help with expansion. REQUIRED: 1 . List some problems with the current accounts receivable system. 2 . What suggestions would you make to improve internal control? 3 . How would you explain to Sienna that she personally is not the problem?
The price-earnings ratio reveals information about the stock market's expectations for a company's future earnings growth.
Answer the following statement true (T) or false (F)
In order to flourish in a work environment with economic factors that are constantly in flux, one must
a. Align themselves with powerful political factions b. Adapt and learn new skills when required c. Learn to be an autocratic leader d. Gain as much coding experience as possible