Asset use transactions always involve the payment of cash.
Answer the following statement true (T) or false (F)
False
Asset use transactions can also involve a decrease in another asset account, such as supplies or prepaid rent.
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Which of the following would best indicate that the firm is carrying excess inventory?
a. A decline in sales b. A decline in the current ratio c. A decline in days' sales in inventory d. A stable current ratio with declining quick ratios e. A rise in total asset turnover
Barry buys a new sports car. The car sits low to the ground, and because of the styling, visibility
to the rear is limited. About a month after Barry has the car, he backs over his pet poodle as he is leaving for work. In his strict liability suit against the manufacturer, Barry will: A) Lose because he is not in privity of contract with the car manufacturer. B) Win on the basis of packaging defect because the car could have been packaged in a differently styled body. C) Lose because he assumed the risk of backing up in a car when he could not see to the rear. D) Win because driving a sports car is an inherently dangerous activity. E) Win on the basis of design defect.
For a firm such as Nordstrom that has no manufacturing operations, value is added by developing expertise in the procurement of finished goods and by displaying them in its stores in a way that enhances sales. In the value chain, procurement activities become the primary activity. This begins with ________ and ends with ________.
A. partnering with vendors; marketing and selling B. purchasing goods; operating stores C. partnering with vendors; operating stores D. managing and distributing inventory; marketing and selling
Regardless of the population of a state, each will be represented by_________U.S. Senators
Fill in the blank(s) with correct word