The amount of money that has not yet been withdrawn from the company’s checking account—even though the checks have already been written is known as:
a. a cash reserve
b. float
c. a line of credit
d. trade credit
e. credit financing
b. float
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[APPENDIX] Which of the following statements regarding partnerships is true?
a. Partnerships must register with the federal government. b. Partnerships pay taxes to the IRS. c. Partners must register with the state government. d. Partners must abide by the separate entity concept and keep their personal assets separate from the partnership assets.
The "pulsing" pattern of advertising is characterized by:
A) a continuous pattern of advertising evenly distributed over the period. B) a basic level of advertising combined with regularly scheduled bursts of advertising. C) a burst of advertising alternated with a period of no advertising. D) a basic level of advertising at irregular intervals.
Companies using target costing ________
A) first design a new product and then determine its cost B) tailor their products to be in line with the marketing mix C) routinely neglect customer value considerations D) avoid determining an ideal selling price until analyzing test market results E) start with an ideal selling price and then target costs that will ensure that the price is met
What is the best definition of an accounting period?
a. Any 12-month period b. The calendar year c. The period between any two balance sheet dates d. The period in which the major income-producing activity occurs e. The period between any two income statement dates