As firms realized that the ______ of a product strongly impacted the profitability and competitiveness of the organization, they began to pay attention to management styles that would increase workers’ ability and motivation.
a. ROI
b. quality
c. defects
d. capabilities
b. quality
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Indicate whether the statement is true or false
161. On July 1 of the current calendar year, Olive Co. paid $7,500 cash for management services to be performed over a two-year period beginning July 1. Olive follows a policy of recording all prepaid expenses to asset accounts at the time of cash payment. The adjusting entry on December 31 of the current year for Olive would include:
A. A credit to a liability and a debit to a prepaid expense for $1,875. B. A debit to an expense and a credit to a prepaid expense for $5,625. C. A debit to a prepaid expense and a credit to an expense for $1,875. D. A debit to a prepaid expense and a credit to Cash for $5,625. E. A debit to an expense and a credit to a prepaid expense for $1,875.
A marketing decision support system (MDSS) is a(n) ________
A) basic system used by companies that do not have the resources to develop a marketing information system (MIS) B) popular syndicated research report purchased by most major media companies C) sophisticated information system that allows marketing managers to use statistical and modeling software tools D) type of custom research report often called for in the marketing research process E) data warehouse used to support a marketing information system (MIS)
Answer the following statements true (T) or false (F)
1. Greene Electric Company uses the direct method to prepare its statement of cash flows. Greene has reported cost of goods sold of $85,000 on its income statement for 2018. If the balance in Accounts Payable, for merchandise inventory suppliers only, has decreased by $8,000 during the year, then $8,000 needs to be subtracted from $85,000 to calculate payments to suppliers for merchandise inventory purchases. 2. Lightning Electric Company uses the direct method to prepare its statement of cash flows. Lightning has reported operating expenses of $63,000 on its income statement for the year 2019. If the balance in accrued liabilities has increased by $6,000 during the year, then $6,000 needs to be added to $63,000 to calculate payments to suppliers for operating expenses. Accrued liabilities relate to operating expenses. 3. Using the direct method, interest expense paid on a note payable is included in the operating activities section of the statement of cash flows. 4. In practice, most companies face complex situations. In these cases, a spreadsheet can help in preparing the statement of cash flows. 5. The spreadsheet starts with the beginning statement of cash flows and concludes with the ending statement of cash flows. 6. Accountants can prepare the statement of cash flows directly from the lower part of the spreadsheet.