Which one of the following best explains the distinction between inventory and an operating asset?
a. ownership
b. cost
c. intent
d. purchase price
c
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The accounting equation for Ying Company shows a decrease in its assets and a decrease in its equity. Which of the following transactions could have caused that effect?
A. The company paid an amount due on credit. B. Cash was received from providing services to a customer. C. Equipment was purchased for cash. D. Advertising expense for the month was paid in cash. E. A utility bill was received for the current month, to be paid in the following month.
Answer the following statement(s) true (T) or false (F)
1. An entrepreneur is a person with entrepreneurial characteristics who is employed within a large corporation. 2. Growth-oriented entrepreneurs have a high need for achievement. 3. Although growth-oriented entrepreneurs are persistent, they find handling skepticism difficult. 4. Approximately 30 percent of all new U.S. businesses fail within the first two years of operation. 5. Entrepreneurs face considerable business risk, but few other risks.
Employee handbooks usually do which of the following?
a. discuss grounds for discipline and dismissal b. communicate company policies and procedures c. eliminate liability for employers for any on-the-job injuries d. discuss grounds for discipline and dismissal and communicate company policies and procedures e. discuss grounds for discipline and dismissal and communicate company policies and procedures and eliminate liability for employers for any on-the-job injuries
Value-creation process requirements are driven by internal customer needs
a. True b. False Indicate whether the statement is true or false