Petty cash is a fund containing a small amount of cash that is used to pay for minor expenditures
Indicate whether the statement is true or false
TRUE
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Cash generated from operating activities may be computed and reported using
a. the direct method only. b. the indirect method only. c. either the direct and indirect methods. d. the combination method.
Chu Company provided the following information related to its inventory sales and purchases for December Year 1 and the first quarter of Year 2: Dec. Year 1Jan. Year 2Feb. Year 2Mar. Year 2 (Actual)(Budgeted)(Budgeted)(Budgeted)Cost of goods sold$80,000 $140,000 $180,000 $120,000 ? Desired ending inventory levels are 25% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February Year 2 would be:
A. $225,000. B. $165,000. C. $180,000. D. $135,000.
Answer the following statements true (T) or false (F)
1) The payback method considers cash flows that occur both during and after the payback period. 2) The payback method is used only when the net cash inflows from a capital investment are the same for each period. 3) Managers generally use payback as the sole method for deciding whether to invest in an asset. 4) The payback method uses discounted cash flows to make investment decisions. 5) Both the payback and the accounting rate of return methods focus on cash flows that an asset generates.
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