The accounts payable clerk is responsible for updating the AP Control accounts to reflect each vendor liability
Indicate whether the statement is true or false
F
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Which of the following statements is true regarding decentralization?
A. Decentralization increases the complexity of problems. B. Decentralization limits fast responses to business changes. C. Managers in a decentralized organization have less knowledge about local business advantages. D. Decentralization allows managers to receive on-the-job training in decision-making.
A _______ is a small group of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they hold themselves mutually accountable.
A. quality circle B. group C. panel D. collaborative unit E. team
Greg, a cash method of accounting taxpayer, owns 100 shares of Parker Corporation stock with a basis of $20,000. Greg receives two liquidating distributions of $8,000 on March 3 of last year, and $8,000 on August 8 of this year. The amount of the second distribution is not known until June 15 of this year. Greg recognizes __________.
A) a gain of $8,000 last year and a loss of $12,000 this year. B) a loss of $2,000 last year and a loss of $2,000 this year. C) no loss last year and a $4,000 loss this year. D) none of the above
Near the city park, Wendi Haskell opened a bicycle shop where she rents and sells both mountain and road racing bikes. Wendi buys her rental mountain bikes from a local manufacturer whose cost is $180 for each bike. If Wendi pays $315 for each bike, what is the manufacturer's markup percent based on its cost?