Which of the following is the most accurate description of a direct competitor for a firm?
A) a firm that sells complementary goods or services
B) a firm that offers identical goods or services to another market
C) a firm that sells similar, but not identical, goods or services
D) a firm that offers identical goods or services to the same market
D
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Which of the following is an example of controlling external noise?
a. asking people to turn off their cell phones during a meeting b. eating a meal before a meeting so it doesn't distract you c. taking a nap before a big test d. taking some medicine for an upset stomach before a job interview
Purchases journals are used to record all purchases
Indicate whether the statement is true or false
One method of expanding a business is the purchase of an entire company or part of it so that the entity is completely absorbed and no longer exists as a separate company. This is called:
A. a takeover. B. an acquisition. C. a subsidiary. D. a joint venture.
Harkey Corporation's balance sheet and income statement appear below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$32 $35 Accounts receivable 74 71 Inventory 41 42 Property, plant and equipment 443 370 Less accumulated depreciation 194 164 Total assets$ 396 $ 354 Liabilities and stockholders' equity: Accounts payable$26 $28 Accrued liabilities 28 25 Income taxes payable 40 36 Bonds payable 120 170 Common stock 83 80 Retained earnings 99 15 Total liabilities and stockholders' equity$ 396 $ 354 Income StatementSales$ 923Cost of goods sold 604Gross margin319Selling and administrative expense 169Net operating income150Gain on sale of equipment 11Income
before taxes161Income taxes 48Net income$ 113Cash dividends were $29. The company sold equipment for $15 that was originally purchased for $6 and that had accumulated depreciation of $2.Required:Using the direct method, determine the net cash provided by (used in) operating activities. What will be an ideal response?