Which of the following is the first step in AIDA procedure?
A. Approach
B. Attention
C. Action
D. Attraction
E. Attire
Answer: B
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All but which of the following is true about a delegation of duties?
a. When the delegatee assumes the delegated duty, both the delegator and the delegatee are liable for performance of the contractual duty to the obligee. b. Contractual duties are generally delegable. c. The courts will examine an assignment more closely than a delegation. d. A delegation will not be permitted if the nature of the duties are personal in that the obligee has a substantial interest in having the delegator perform the contract.
Colorful Cat Company uses the direct method to prepare its statement of cash flows
Refer to the following financial statement information for the year ending December 31, 2017: Colorful Cat Company Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Increase (Decrease) Cash $33,000 $13,000 $20,000 Accounts Receivable 29,000 36,000 (7,000 ) Merchandise Inventory 56,000 29,000 27,000 Plant and Equipment, net 126,000 92,000 34,000 Total Assets $244,000 $170,000 $74,000 Accounts Payable $9,000 $13,000 $(4,000 ) Accrued Liabilities 7,000 3,000 4,000 Long-term Notes Payable 70,000 79,000 (9,000 ) Total Liabilities $86,000 $95,000 $(9,000 ) Common Stock $55,000 $3,000 $52,000 Retained Earnings 115,000 78,000 37,000 Treasury Stock (12,000 ) (6,000 ) (6,000 ) Total Stockholders' Equity $158,000 $75,000 $83,000 Total Liabilities and Stockholders' Equity $244,000 $170,000 $74,000 Colorful Cat Company Income Statement Year Ended December 31, 2017 Sales Revenue $291,300 Interest Revenue 1,000 Gain on Sale of Plant Assets 6,000 Total Revenues and Gains $298,300 Cost of Goods Sold 145,000 Salaries and Wages Expense 49,000 Depreciation Expense-Plant Assets 16,000 Other Operating Expense 25,000 Interest Expense 3,500 Income Tax Expense 7,800 Total Expenses 246,300 Net Income $52,000 â€Æ' Colorful Cat Company Statement of Retained Earnings Year Ended December 31, 2017 Retained Earnings, January 1, 2017 $78,000 Add: Net income 52,000 Less: Dividends 15,000 Retained Earnings, December 31, 2017 $115,000 Prepare the operating activities section of the statement of cash flows, using the direct method. What will be an ideal response
Project A has an NPV of $20,000 and a PI of 1.2. Project B has an NPV of $10,000 and a PI of 1.3. Both projects have equal lives. Which project should be preferred if we are NOT concerned with capital rationing
(that is, we are NOT concerned with being short of funds)? A) We should prefer Project B since it has a higher PI. B) We should compute the EAA before we make any decision. C) We should prefer Project A since it has a higher NPV. D) We should prefer Project B if it has a higher IRR.
Jordan Co. uses the allowance method of accounting for uncollectible accounts. Jordan Co. accepted a $5,000, 12%, 90-day note dated May 16, from Beckam Co. in exchange for its past- due account receivable. Make the necessary general journal entries for Jordan Co. on May 16 and the August 14 maturity date, assuming that the:
a. Note is held until maturity and collected in full at that time. b. Note is dishonored; the amount of the note and its interest are written off as uncollectible.