What is a characteristic of managers in SMEs?
a) Delivering information personally
b) Receiving feedback more quickly
c) Ad hoc nature of HRM
d) All of the above
d) All of the above
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On what information does the auditor base a going concern evaluation?
a. On separate procedures. b. On the management discussion and analysis (MD&A). c. On information obtained from normal audit procedures performed to test management's assertions. d. On the statement of cash flows for the current period.
Qualitative non-financial performance measures
a. are usually the most well-received by managers. b. often reflect long-term organizational goals better than financial performance measures. c. can only be developed in the production area of an organization. d. is limited by the number of critical success factors defined by the organization.
Gideon Company uses the direct write-off method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gideon makes to record the recovery of the bad debt is:
A.
| Accounts Receivable-A. Hopkins | 2,000 | |
| Bad debts expense | 2,000 | |
| Cash | 2,000 | |
| Accounts Receivable-A. Hopkins | 2,000 |
B.
| Cash | 2,000 | |
| Accounts Receivable-A. Hopkins | 2,000 |
C.
| Cash | 2,000 | |
| Bad debts expense | 2,000 |
D.
| Accounts Receivable-A. Hopkins | 2,000 | |
| Allowance for Doubtful Accounts | 2,000 | |
| Cash | 2,000 | |
| Accounts Receivable-A. Hopkins | 2,000 |
E.
| Allowance for Doubtful Accounts | 2,000 | |
| Accounts Receivable-A. Hopkinse | 2,000 | |
| Accounts Receivable-A. Hopkins | 2,000 | |
| Cash | 2,000 |
All individual entries in the sales journal are posted to the:
a. accounts receivable ledger. b. general ledger. c. accounts payable journal. d. No individual posting is done.