Which of the following statements, regarding notes receivable, is incorrect?
A) Notes receivable usually have longer terms than accounts receivable.
B) A notes receivable is a written promise that a customer will pay a fixed amount of principal plus interest by a certain date in the future.
C) All notes receivable are considered long-term assets.
D) Notes receivable are sometimes called promissory notes.
C) All notes receivable are considered long-term assets.
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What will be an ideal response?
A retailer uses a 20-unit reorder point based on assuming a 3-day lead time, a 5-day usage rate, and a 5-unit safety stock. In how many days will a stockout occur if the lead time becomes 7 days and the usage rate continues at 5 units per day?
a. 0 b. 2 c. 3 d. 4
One of the objectives of NAFTA is to promote conditions of fair competition in the United States, Canada, and Mexico
Indicate whether the statement is true or false
The Puyer Corporation makes and sells only one product called a Deb. The company is in the process of preparing its Selling and Administrative Expense Budget for next year. The following budget data are available: MonthlyFixed CostVariable CostPer Deb SoldSales commissions $0.90 Shipping $1.40 Advertising$50,000$0.20 Executive salaries$60,000 Depreciation on office equipment$20,000 Other$40,000 ?All of these expenses (except depreciation) are paid in cash in the month they are incurred.?If the company has budgeted to sell 16,000 Debs in January, then the total budgeted variable selling and administrative expenses for January will be:
A. $36,800 B. $40,000 C. $25,600 D. $17,600