Generally speaking, budgets are not used to:
A. facilitate communication and coordinate activities.
B. identify a company's most profitable products.
C. create a plan of action.
D. assist in the control of profit and operations.
E. evaluate performance.
Answer: B
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Work Room Company purchased equipment for $45,000. Total depreciation of $36,000 was recorded. On January 1, 2019, Work Room exchanged the equipment for new equipment, paying $65,000 cash. The market value of the new equipment is $65,000. Prepare the journal entry to record this transaction. Assume the exchange had commercial substance. Omit explanation.
What will be an ideal response?
On a statement of cash flows prepared using the direct method, if certain expenses do not require a current outlay of cash, those expenses must be subtracted from operating expense to arrive at cash payments for operating expenses
Indicate whether the statement is true or false
Refer to the following selected financial information from Gomez Electronics. Compute the company's debt-to-equity ratio for Year 2. Year 2Year 1Net sales$478,500 $426,250 Cost of goods sold 276,300 250,120 Interest expense 9,700 10,700 Net income before tax 67,250 52,680 Net income after tax 46,050 39,900 Total assets 317,100 288,000 Total liabilities 181,400 167,300 Total equity 135,700 120,700
A. 0.75. B. 1.75. C. 2.34. D. 1.34. E. 2.63.
What factor influences staffing contingencies?
a) Country of origin of the MNE b) Size and task complexity of the foreign affiliate c) Cultural distance of an affiliate from headquarters d) All of the above