Scenario E: Greg is the finance manager of Magical Messages Corp. a communication and information technology corporation. His department is working on enforcing some financial controls on the organization. Greg assigns different tasks to his team members. Stacey's task is to give him a present financial picture of the company. Pete's task is to give him the values of various items the company owns. Julio's task is to give him a report on the amount the company owes to various creditors. Finally, Gretchen's task is to prepare a report on the amount accruing to the corporation's owners.On which of the following will Julio be working?
A. stockholders' equity
B. liabilities
C. assets
D. balance sheet
E. profit and loss statement
Answer: B
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The primary difference between a fixed budget and a flexible budget is that a fixed budget
A) cannot be changed after the period begins, whereas flexible budget can be changed after the period begins. B) is concerned only with future acquisitions of fixed assets, whereas a flexible budget is concerned with expenses that vary with sales. C) includes only fixed costs, whereas a flexible budget includes only variable costs. D) is a plan for a single level of production, whereas a flexible budget can be converted to any level of production.
Conglomerate investments usually are rated as low risk because foreign governments see them as providing fewer benefits to a multinational company and greater benefits to the country than other investments.
Answer the following statement true (T) or false (F)
In the context of the evolution of marketing, marketers of the _____ believe that satisfied customers can develop into advocates for businesses by becoming powerful generators of positive "word-of-mouth."
A. selling era B. relationship era C. marketing era D. production era
Which of the following items is not a liability?
A) The balance due on your credit card B) Your college loans C) The wages you give up to take a class D) An IOU to your roommate