Which of the following statements does NOT accurately describe standards?
a. Performance standards should be aligned with the overall organizational goals.
b. Standards are derived from the organization’s objectives.
c. Standards need to be general so that it does not put restraints on the organization.
d. Performance standards should be aligned with the firm’s reward and compensation plan.
c. Standards need to be general so that it does not put restraints on the organization.
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Land costing $71,000 was sold for $50,000 cash. The loss on the sale was reported on the income statement asother expense. On the statement of cash flows, what amount should be reported as an investing activity from thesale of land?
a. $50,000 b. $71,000 c. $121,000 d. $21,000
An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:
A) in-house export organization. B) bank. C) freight forwarder. D) credit union. E) checking account.
In 2019, John (52 years old) files as a head of household with one 18-year old dependent (qualifying) child. John is eligible to claim a $700 American opportunity credit for the year. John did not have any taxes withheld by his employer during the year and he did not make any estimated tax payments. After taking credits into account, what is the amount of John's taxes payable or refund, assuming that his AGI is $26,000 (all from salary) and his taxable income is $8,000?
What will be an ideal response?
A radio advertisement announced that Dan's Ice Cream would be open until 10:00 p.m. on Friday evenings. Norm reached the store by 9:45 p.m. to buy an ice cream cone. The store was locked and a sign on the door said that the store closes at 9:00 p.m. This scenario is an example of a
A. knowledge gap. B. market gap. C. communications gap. D. research gap. E. delivery gap.