Which of the following bases of power is essential to people who have to work with people from other departments and organizations?
A. Reward power
B. Legitimate power
C. Expert power
D. Referent power
Answer: C
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The accounts receivable turnover ratio for a merchandiser is 9.7 times. Calculate the days' sales in receivables for the merchandiser. (Use 365 days in calculations as needed. Round your answer to the nearest day.)
A) 34 days B) 38 days C) 29 days D) 41 days
During August, Boxer Company sells $358,000 in merchandise that has a one year warranty. Experience shows that warranty expenses average about 5% of the selling price. The warranty liability account has a credit balance of $12,600 before adjustment. Customers returned merchandise for warranty repairs during the month that used $9200 in parts for repairs. The entry to record the estimated warranty expense for the month is:
A. Debit Estimated Warranty Liability $17,900; credit Warranty Expense $17,900. B. Debit Estimated Warranty Liability $9200; credit Warranty Expense $9200. C. Debit Warranty Expense $14,500; credit Estimated Warranty Liability $14,500. D. Debit Warranty Expense $5300; credit Estimated Warranty Liability $5300. E. Debit Warranty Expense $17,900; credit Estimated Warranty Liability $17,900.
For an amusement park, concession food stands and the amusement rides themselves are examples of ________
A) MRO products B) specialty products C) processed materials D) equipment E) convenience products
Direct costs can be specifically traced to a cost object
Indicate whether the statement is true or false