In merchandising firms, purchasing decisions are authorized by inventory control
Indicate whether the statement is true or false
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Match the following terms with the appropriate definition.A. Permanent accountsF. Work sheetB. Accounting cycleG. Closing entriesC. Temporary accountsH. Post-closing trial balanceD. Working papersI. Operating cycle of a businessE. Income summaryJ. Pro forma statements____ 1. Various analyses and internal documents prepared by accountants when organizing information for internal and external decision makers.____ 2. The time span from when cash is used to acquire goods and services until cash is received from the sale of those goods and services.____ 3. A temporary account only used for the closing process that contains a credit for the sum of all revenues and a debit for the sum of all expenses.____ 4. A widely used working paper that is a useful tool for preparers in working with
accounting information, usually not available to external decision makers.____ 5. A list of permanent accounts and their balances from the ledger after all closing entries are journalized and posted.____ 6. Recurring steps in preparing financial statement performed each accounting period, beginning with analyzing transactions and ending with a post-closing trial balance or reversing entries.____ 7. Entries used to transfer end-of-period balances in revenue, expense, and dividends accounts to the permanent retained earnings account. ____ 8. Statements that show the effects of proposed transactions as if the transactions had already occurred.____ 9. Accounts that report on activities related to one or more future accounting periods; they carry their ending balances into the next period.____10. Accounts that accumulate data related to one accounting period only; they include income statement accounts, dividends, and the Income Summary account. What will be an ideal response?
_______ represent the natural starting point for the core product part of flexible market offerings. They are the naked solution for the product component for the target market segments and customers
a. Aggregate project plans b. Derivative projects c. Breakthrough projects d. Platform projects
When is a buyer deemed to have accepted goods that are delivered pursuant to a contract?
a. If he fails to reject the goods after he has had a reasonable opportunity to inspect them. b. Immediately upon delivery. c. Only when he pays for them. d. Only after an express acceptance.
When using ________, each employee is compared with every other employee, usually in terms of an overall category such as "present value to the organization."
A. paired comparisons B. narrative essays C. alternation ranking D. simple ranking