A company has prepared the operating budget, the cash budget, and the budgeted income statement and is now preparing the budgeted balance sheet. The balance of Retained Earnings can be taken from the ________
A) inventory, purchases, and cost of goods sold budget
B) operating budget
C) cash budget
D) budgeted income statement and the balance sheet of the previous year
D
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The Trey Co sells $75,000 of accounts receivable to a factor and receives 90% of the value of the factored accounts less a 15% commission based on the gross amount of factored accounts receivable. After the journal entry to record this factoring transaction is made, Trey Co's total assets will be
A) reduced by $67,500. B) reduced by $7,500. C) reduced by $11,250. D) increased by $41,000.
When considering whose ethical perception should be followed in situations in which the values in one country conflict with those in another, employees should look to ______.
A. religion B. personal ethics C. the organization’s code of conduct D. local government
The ____________________ area of a block determines what happens if an error occurs.
Fill in the blank(s) with the appropriate word(s).
William Ouchi developed the ____________________ approach.
Fill in the blank(s) with the appropriate word(s).