In a periodic inventory system, ________.
A) quantities of merchandise inventory on hand are updated after each sale and each purchase
B) the cost to invest in the system is greater than the cost to invest in a perpetual inventory system
C) the business is in violation of U.S. GAAP
D) businesses must obtain a physical count of inventory to determine quantities on hand
D) businesses must obtain a physical count of inventory to determine quantities on hand
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An advantage of the partnership form of business organization is
A) unlimited liability B) mutual agency C) ease of formation D) limited life
Given the choice to match, lead, or lag, the most common competitive pay policy is to match rates paid by competitors.
Answer the following statement true (T) or false (F)
Answer the following statement(s) true (T) or false (F)
21. The starting point of any organization is a vision. 22. The environment of an organization is made up of all external factors that have the potential to affect the organization. 23. An organization’s environment is all the factors inside the organization that have the potential to affect it. 24. The environment can be classified into two categories, known as general and basic environments. 25. Environmental uncertainty is the main reason why enacting and defining the environment is so difficult.
Financial ratios can be used to assess which of the following aspects of a firm's performance?
A. Profitability B. Liquidity C. Solvency D. All of these answers are correct.