When a business requires frequent reporting of the same categories of informa-tion—
a. data remain relatively constant from one reporting period to the next.
b. a form report may increase the report writer's efficiency.
c. employees are often excused from reporting regularly.
d. the data have little value to management.
b
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The debt created by a business when it makes a purchase on account is referred to as an
A) account payable B) account receivable C) asset D) expense payable
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Kelly has just been appointed the manager of a company that has begun the direct export of its product. What precautions should he take to assure that the company will in fact be paid for its products when the company has never dealt with the buyers before and is new to the international legal environment?
You purchase $250,000 worth of insurance to protect your restaurant with a $10,000 deductible. How much money are you entitled to receive as a payout if a fire destroys your store which is valued at $250,000?
A. $240,000 B. $10,000 C. $250,000 D. $240,000 less co-payment