At which point is supervision most critical in the cash receipts system?
a. accounts receivable
b. general ledger
c. mail room
d. cash receipts
C
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All of the following statements regarding the gross profit ratio are true except:
a. The gross profit ratio alone is sufficient to determine a company's profitability. b. Managers, investors, and creditors use the gross profit ratio to measure one aspect of profitability. c. The gross profit ratio explains how many cents on every dollar are available to cover expenses other than cost of goods sold and to earn a profit. d. If a company's net sales were $200,000 and cost of goods sold were $120,000, its gross profit ratio would be 40%.
Winston ordered fifty 7-inch tablets from One Tech Solutions, a wholesaler. The terms of the sale were cash on delivery. When Winston received the goods, he could see without inspection that they were fifty 9-inch tablets and not what he had ordered. Under these circumstances, ________.
A. Winston must accept the order but is entitled to a discount of the purchase B. Winston is entitled to receive the shipment without paying for it because of the seller's breach of contract C. Winston cannot reject the order because the terms of the purchase were cash on delivery D. Winston may reject the tablets without making any payment
Explain a metacommunication and kinesic communication. What are the characteristics of nonverbal messages?
A public corporation must have at least three directors, two of whom are outside directors. An outside director is someone who is:
A) Not an officer B) Not an employee C) Neither an officer nor an employee D) Not a shareholder E) Also a director of another corporation