The UPA is a model act that codifies sole proprietorship law.
Answer the following statement(s) true (T) or false (F)
Ans: False
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The cash receipts journal will be used for
A) only cash received from customers on account. B) all cash received. C) cash received from customers on account and cash sales. D) only cash received from cash sales.
A logical extension of the sociotechnical philosophy is a(n)
A. organizational bureaucracy. B. lean and flat organization. C. micromanagement approach. D. mechanistic structure. E. closed-book management approach.
Exhibit 15.1 Zorn Corporation is deciding whether to pursue a restricted or relaxed working capital investment policy. The firm's annual sales are expected to total $4,400,000, its fixed assets turnover ratio equals 4.0, and its debt and common equity are each 50% of total assets. EBIT is $150,000, the interest rate on the firm's debt is 10%, and the tax rate is 40%. If the company follows a restricted policy, its total assets turnover will be 2.5. Under a relaxed policy its total assets turnover will be 2.2. Refer to Exhibit 15.1. If the firm adopts a restricted policy, how much lower would its interest expense be than under the relaxed policy? Do not round intermediate calculations. ?
A. $13,320 B. $14,520 C. $12,000 D. $11,400 E. $13,920
QuikPay Inc extends credit to consumers. QuikPay is subject to the Equal Credit Opportunity Act, which prohibits credit dis-crimination based on A)?intelligence
B)?education. C)?income. D)?race.