This type of role model (exemplar) strives to be ethical consistent throughout life.
A. moral leader
B. moral hero
C. moral worker
D. moral friend
C. moral worker
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The method of reporting cash flows from operating activities under which revenues and expenses reported on the income statement are adjusted to reflect the amount of cash received or expended for each item is called the
a. direct method. b. indirect method. c. combination method. d. adjusted method.
What does the phrase, "Revenue is recognized when earned" mean?
A) Revenue is recorded in the accounting records when the goods are received from a supplier, and reported on the income statement when sold to the customer. B) Revenue is recorded in the accounting records and reported on the income statement when the cash is received from the customer. C) Revenue is recorded in the accounting records when the goods are sold to a customer, and reported on the income statement when the cash payment is received from the customer. D) Revenue is recorded in the accounting records and reported on the income statement when goods are sold and delivered to a customer.
In a 9-box matrix used to evaluate the performance and potential of followers, a "Future Star" will be rated as a
A. moderate performer with high potential. B. high performer with moderate potential. C. high performer with low potential. D. low performer with high potential.
During the current accounting period, revenue from credit sales is $536,800. The Accounts Receivable balance is $41,184 at the beginning of the period and $41,760 at the end of the period. Which of the following statements is correct?
A. The receivables turnover ratio is 28.3. B. The receivables turnover ratio is 12.9. C. On average, it takes 12.9 days to collect payment from credit customers. D. On average, the company sells its inventory every 28.3 days.