Which of the following statements best represents when an organization can begin to focus on its discretionary or philanthropic responsibilities?
A. An organization should pursue discretionary responsibility even when it is not
meeting its economic requirements.
B. An organization should pursue discretionary responsibility after it meets its economic,
legal, and ethical responsibilities.
C. An organization should pursue discretionary responsibility as long as it is meeting its
economic requirements.
D. An organization should pursue discretionary responsibility above legal responsibility.
B. An organization should pursue discretionary responsibility after it meets its economic,
legal, and ethical responsibilities.
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Washington Corp reported the following information for 2016 and 2017. 2016 2017 Accounts receivable $101,000 $93,000 Prepaid expenses 5,000 6,000 Accounts payable 71,000 76,000 Salaries payable 5,000 4,000 Net income 80,000 Depreciation expense 9,000 Gain on sale of equipment 5,000 If Washington uses the indirect method to prepare the operating activities section of the statement of cash flows,
what amount will be reported as net cash inflow from operating activities for 2017? a. $73,000 b. $83,000 c. $95,000 d. $105,000
A first-mover advantage occurs when a company is the first to market with a competitive advantage. All of the following companies were first-movers except ________.
A. FedEx - online self-service software B. Microsoft - Bing Search Engine C. Apple - iPad D. Apple - iPod
Arbitrage functions to
A. provide French markets access to other EU markets. B. create wealth through interest rate swaps. C. exploit price differences between markets, so as to profit with no risk. D. create increased trading in commodity markets.
Why do companies devote resources to a purchasing department? Could not individual departments make their own purchases more efficiently?