On December 27, 2014, Admission Company ordered merchandise for resale from Eviction, Inc, that cost $7,000 (terms cash within 1 . days). Eviction shipped the merchandise f.o.b. shipping point on December 28, 2014, and the goods arrived on January 2, 2015 . The invoice was received on December 30, 2014 . Admission Company did not record the purchase in 2014 and did not include the goods in ending
inventory. The effects on Admission Company's 2014 financial statements were
a. income and owners' equity were correct; liabilities were incorrect, assets were correct.
b. income and owners' equity were correct; assets and liabilities were incorrect.
c. income, assets, liabilities, and owners' equity were correct.
d. income, assets, liabilities, and owners' equity were incorrect.
B
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Accounting for inventories is a major consideration for many companies because of its significance to which of the following financial statements?
a. Balance sheet. b. Income statement. c. Statement of Cash Flow d. Both A and B.
Walmart's Retail Link provides real time purchase data to suppliers of goods sold at Walmart stores. Retail Link is an example of a ________ source of Big Data
A) social media B) partner database C) commercial entity D) government E) corporate information technology
Other people judge leaders on their behaviors while judging themselves on their intent.
What will be an ideal response?
Polly was a dedicated employee and a team player who did whatever it took to meet her tough deadlines, including taking work home and putting in long hours at work. In order to express his appreciation and to keep her motivated, her manager gave her a 25 percent raise and commended her work at the quarterly team meeting. However, Polly soon began showing signs that she was not satisfied at work and eventually moved to a different company. Which of the following statements would explain this scenario?
A. The manager had given each team member specific and challenging goals to help them maximize their performance. B. The raises and commendations were given out to the entire team, regardless of individual performance. C. Polly's manager had already indicated to her privately that she will be receiving a raise for her good work. D. Polly is a high achiever who values her personal achievements more than the trappings and rewards of success.