Different sectors or industries grow or shrink at various stages in the business cycle. Which statement is TRUE?
A) Utilities tend to do relatively better in the early stages of an expansion.
B) Basic materials tend to do well in the early stages of a recession.
C) Healthcare tends to do well at the peak of an expansion.
D) The financial sector tends to do relatively better in the early stages of an expansion.
C
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Which of the following has progressed the FURTHEST along its product life cycle?
A) Video physical rentals B) Boeing 787 C) Apple SmartWatch D) 3-D game players E) Xbox 360
Entrepreneurs sell constantly to ________.
A. potential employees B. potential investors C. customers D. All of these.
An internal control questionnaire for purchases and accounts payable could include the following questions. Match the question to the appropriate control objective and place the identifying letter in the space provided.
____ 1. Are receiving reports pre-numbered and accounted for? ____ 2. Are all purchases orders supported by properly approved purchase requisitions? ____ 3. Are vendors' invoices listed immediately upon receipt? ____ 4. Are vendors' invoices matched against purchase orders and receiving reports before a liability is recorded? ____ 5. Is the purchasing department independent of the accounting, receiving, and shipping departments? ____ 6. Are vendors' invoices checked against purchase orders and receiving reports for quantities, prices, and terms? ____ 7. Does the accounting procedures manual require that transactions be recorded on the date that goods and services are received? ____ 8. Are all goods returned to vendors supported by properly approved shipping documents? ____ 9. Is the chart of accounts adequate? ____ 10. Are vouchers and attached documents cancelled after being recorded? A: Environment B: Validity C: Completeness D: Authorization E. Accuracy F. Classification G: Proper period
Kirnon Clinic uses client-visits as its measure of activity. During July, the clinic budgeted for 3250 client-visits, but its actual level of activity was 3160 client-visits. The clinic has provided the following data concerning the formulas to be used in its budgeting: Fixed element per monthVariable element per client-visitRevenue - $39.10? Personnel expenses$35,100? $10.30?Medical supplies 1100? 7.10?Occupancy expenses 8100? 1.10?Administrative expenses 5100? 0.20?Total expenses$49,400? $18.70??The activity variance for personnel expenses in July would be closest to:
A. $3367 U B. $3367 F C. $927 U D. $927 F