A company had net sales of $583,000 and cost of goods sold of $364,000. Its gross margin equals $947,000.
Answer the following statement true (T) or false (F)
False
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As director of operations for Little Napoli Pizzerias, Bernard has set a goal of opening fourteen new stores on the West Coast in the next three years. He has chosen Angelina, a highly capable manager who has worked with the company for the better part of a decade, to take on this task. He meets with her, gets her suggestions and feedback, and sets about to ensure that she has the resources she needs to complete the assignment. A year later, the project seems to be on track, with four stores already opened and another four ready to go. However, at the time of their next meeting, with just six months left before the targeted completion date, the project is in disarray. What is the most likely cause for this failure?
A. Bernard did not meet with Angelina at regular and appropriate intervals. B. Angelina failed to get Bernard to clearly outline her responsibilities. C. Angela did not make it clear to Bernard what resources she needed. D. Bernard did not establish clear goals for Angelina. E. Angelina simply lacked the qualifications to get the job done.
The formula for calculating the cash ratio is calculated is ________.
A. (Cash + Cash equivalents) / Total current liabilities B. (Cash equivalents) / Total current liabilities C. (Cash + Cash equivalents) / Total assets D. (Cash) / Total liabilities
Adjusting entries result in a better matching of revenues and expenses for the period.
Answer the following statement true (T) or false (F)
_____ arise from relatively infrequent transactions, and there can be no assurance that they will recur in any future period
a. Gains/Losses b. Revenues c. Expenses d. Assets e. Liabilities