On -The-Level Manufacturing buys materials on credit at the start of the month and pays in 60 days. They also sell on credit, bill customers at the beginning of the month, and receive payment 30 days later
Using Table 6.2, what is the net cash flow from purchases and sales for the month of March?
A) There is NOT enough information to answer this question.
B) $40,000
C) $45,000
D) -$45,000
C
Explanation: C) March pay $40,000 of January purchases, and receives $85,000 from February sales for a net cash flow of $45,000.
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The AICPA's Statements on Auditing Standards can be described as:
A. similar to financial accounting standards in that they are developed by the government. B. providing very specific guidance about the specific activities an auditor must perform on each engagement. C. tend to be general in nature and require a great deal of professional judgment. D. providing assurance that an auditor will not issue an incorrect opinion.
According to a study examining the status of sales as a true profession, sales meets the professional criteria of _____ through professional organizations such as the Strategic Account Management Association (SAMA) and through a common sales vocabulary such as that found in textbooks and training materials.
A. ensuring the welfare of internal and external stakeholders B. making a significant contribution to society C. having a defined culture and organization of colleagues D. developing a well-established routine for salespeople E. adhering to a uniform ethical code
All members of Zeta Phi Beta wear their ZPB shirts when they volunteer in the community. This best demonstrates which feature of small group communication?
a. task b. norms c. identity d. interdependence
A ________ is recorded when inventory damage or obsolescence occurs.
What will be an ideal response?