Which of the following statements about an organization's mission statement is true?
a. The mission statement should express an organization's purpose.
b. The mission statement should identify how an organization will meet the needs of its targeted customers.
c. The mission statement must be communicated throughout the organization.
d. All of the statements are true.
A
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Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $18,525. Clayborn's May bank statement shows $17,000 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit$5650?Outstanding checks$4900?Bank service fees, not yet recorded by company$40?A NSF check from a customer, not yet recorded by the company$735?The adjusted cash balance should be:
A. $17,775 B. $17,750 C. $18,485 D. $12,100 E. $22,650
Lemming makes an $18,750, 120-day, 8% cash loan to Notions Co. on November 1. Lemming's end-of-period adjusting entry on December 31 should be:
A. Debit Interest Receivable $250; credit Interest Revenue $250. B. Debit Interest Revenue $500; credit Notes Receivable $500. C. Debit Interest Receivable $500; credit Interest Revenue $500. D. Debit Cash for $250; credit Notes Receivable $250. E. Debit Notes Receivable $500; credit Interest Revenue $500.
In a straight traffic flow, _____
a. displays and aisles are constructed in a rectangular or gridiron pattern b. impulse goods are placed in the rear of a store c. shoppers are encouraged to walk through the store in any direction they desire d. floor space utilization is not maximized
Exchange-traded derivatives require up-front margin payments, but OTC-traded derivatives require no up-front payments
Indicate whether the statement is true or false