When Dr. Horton checked in at the Ritz-Carlton, it was 3 a.m. He had been traveling for over 12 hours and was exhausted. His suit, which he needed for a speech that morning, looked like he had slept in it. Karen, the night clerk, offered to find a 24-hour dry cleaner and have the suit cleaned while Dr. Horton got a few hours of sleep. Karen's actions are an example of
A. empowerment of employees to meet customers' needs.
B. procedural fairness.
C. specific service standards.
D. the variability associated with service quality performance.
E. public relations to increase puffery.
Answer: A
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Lasiter Corp reported net credit sales of $2,000,000 and cost of goods sold of $1,400,000 for 2016 . On January 1, 2016, accounts receivable was $250,000 . Amounts owed by customers increased by $20,000 during 2016 . Rounding to two decimal places, what is Lasiter's accounts receivable turnover rate for 2016?
a. 8.33 b. 8.00 c. 7.69 d. 7.41
Ryan and Peter share profits in the ratio 3:2. They have decided to liquidate the partnership. After completing all the liquidation procedures (assuming all assets and liabilities were liquidated at book value), the business is left with $56,000 cash. As a result, Ryan will receive ________.
The balance sheet of Ryan and Peter's partnership as of December 31, 2018, is given below.
A) $26,000
B) $30,000
C) $56,000
D) $36,000
A cost leader is the firm most likely to survive a price war.
Answer the following statement true (T) or false (F)
A company purchased equipment valued at $66,000. It traded in old equipment for a $9,000 trade-in allowance and the company paid $57,000 cash with the trade-in. The old equipment cost $44,000 and had accumulated depreciation of $36,000. This transaction has commercial substance. What is the recorded value of the new equipment?
A. $65,000. B. $9,000. C. $8,000. D. $66,000. E. $57,000.