In budgeting, it is useful to compare ________ with the budgeted amounts to determine the accuracy or error of the budget and adjust it as necessary
A) actual inflows
B) actual outflows
C) both actual inflows and outflows
D) current assets
Answer: C
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Use the selected data from Pinecrest Company's financial statements to answer the following question. 2017 2016 Cash $ 22,000 $ 14,000 Accounts receivable 42,000 16,000 Merchandise inventory 22,000 83,000 Prepaid expenses 23,000 18,000 Total current assets $109,000 $131,000 Total current liabilities $ 65,000 $ 72,000 Net credit sales 221,000 326,000 Cost of goods sold 168,000 299,000 Net cash
flow from operating activities 16,000 29,000 Refer to the data for Pinecrest Company. Competitors in Pinecrest Company's industry have an average accounts receivable turnover of 10.8 times. Pinecrest reported accounts receivable at December 31, 2017, of $42,000 and has normal credit terms requiring payment within 30 days. Pinecrest's accounts receivable turnover for 2017 is: a. probably indicating that the company probably has stricter credit terms and policies than the industry as a whole, which may repel potential buyers. b. of no value to bankers and other creditors. c. less efficient in its collection policies in 2017 than the industry as a whole. d. less than the industry, which means that its customers are paying on their accounts in a more timely manner than are customers reflected by the industry average.
One nonprofit organization offers better services than another nonprofit. This is an example of ______ pricing.
A. value-based B. competitive C. cost-oriented D. demand-based
________ crimes require that the perpetrator intended to achieve a specific result from his illegal act.
A. General intent B. Nonintent C. Recklessness D. Specific intent
Richard, an employee in an investment firm, was dissatisfied with the way his superiors handled business dealings. For that reason, he quit his job and started his own business so that he is able to make all management decisions without interference from anyone. Which advantage of entrepreneurship is highlighted in the given scenario?
A. Greater financial success B. Independence C. Uniformity D. Greater challenge