Which of the following is an advantage associated with a sole proprietorship?
A. Retention of control
B. Unlimited liability
C. Permanence
D. Ease of transfer of ownership
Answer: A
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A cash prelist is
a. a document that records sales returns and allowances b. a document returned by customers with their payments c. the source of information used to prepare monthly statements d. none of the above
For activity flexible budgeting, a cost formula is developed for each
A) overhead item as a function of direct labor hours. B) overhead item as a function of resource drivers. C) activity as a function of resource drivers. D) activity as a function of activity drivers. E) each activity as a function of direct labor hours.
The first step in the process of creating a social media campaign is to
A. identify the target audience. B. develop a budget. C. identify a strategy and goals. D. design the elements of the campaign. E. monitor the program.
One of the necessary steps in the financial planning process is a forecast of financial statements under each alternative version of the operating plan in order to analyze the effects of different operating procedures on projected profits and financial ratios.
Answer the following statement true (T) or false (F)