Obsolete inventory should be written down to its current market value.
Answer the following statement true (T) or false (F)
True
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Po Hung gives a cheque for $10,000 to Connected Construction Inc as a down payment on a renovation project to his building. Connected Construction signs the cheque over to its bank to pay a bank loan of $10,000
Connected Construction only does $5,000 worth of the work and disappears. The bank has cashed the cheque and the full $10,000 has been taken out of Po Hung's account. Which of the following is true? A) Po Hung can recover $10,000 from the bank. B) Po Hung can recover $5,000 from the bank C) Po Hung can recover nothing from the bank D) The bank and Po Hung must split the loss of $5,000 equally E) Po Hung cannot successfully sue Connected Construction Inc. for any money
Which of the following statements is false about tracking signals?
a. They monitor whether the forecasts lie around the target. b. Both actual and forecasted demand values are required to calculate tracking signals. c. They cannot be used to determine whether or not the demand pattern has changed. d. They monitor whether the forecasts are consistently too high or low.
The purpose of the restrictive debt covenant that prohibits the sale of accounts receivable is to ________
A) assure the lender that additional borrowing is constrained B) limit the amount of fixed-payment obligations C) limit the realization of current assets to cash D) limit the payment of annual cash dividends
Centrum Springs, Inc. ? Carol has worked for Centrum Springs, Inc., for many years and has now been given the opportunity to advance in the company. Her manager is retiring and hopes that Carol will take over for him. However, even though Carol is an experienced employee, there are many things that she still needs to learn. Carol has trained many new employees, but she has never held a management position. Carol needs to have a general understanding of what it takes to be a manager. ? There are many problems in Carol's department. There are no plans to fall back on in case the initial plan fails. Carol also will need to learn how to direct people in such a way that makes them want to do more than they absolutely have to. Carol feels that this is a great opportunity, and she is anxious
to learn everything to be a great manager. She knows that if she performs well in this position, she will have the opportunity to move up the corporate ladder. Refer to Centrum Springs, Inc. If Carol were to take this first step up the corporate ladder, she would be classified as a A. top manager. B. strategic manager. C. tactical manager. D. first-line manager. E. general manager.