The formal document that provides background and financial information about the company, outlines your goals for the business, and describes how you intend to reach them is called the ____________.
a. business model
b. business plan
c. mission
d. vision
b. business plan
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The factory supplies account is adjusted for supplies used during the year by
a. debiting Factory Supplies and crediting Factory Supplies Expense; b. debiting Factory Supplies Expense and crediting Factory Supplies; c. debiting Office Supplies Expense and crediting Factory Supplies Payable; d. debiting Factory Supplies and crediting Factory Overhead; e. none of these
Which of the following types of short-term credits increase automatically as a firm's operations expand?
A. Promissory notes B. Lines of credit C. Commercial paper D. Compensating balances E. Accruals
The Martins lived in a community property state. Mrs. Martin inherited $80,000 from an uncle. Is her husband entitled to claim $40,000 as community property?
If the manufacturer provides adequate warnings, as in the case of Parish v. ICON, where a person was severely injured when jumping on a trampoline and sued its maker and the maker of a safety net for failure to warn, consumers:
a. can still sue for failure to warn, but are limited in the amount of damages they can recover b. cannot sue for failure to warn c. can recover up to half their medical bills from the manufacturer d. cannot negotiate for damages outside of court e. none of the other choices are correct