A mission statement
A) is a brief statement explaining the purpose of the company and its guiding principles.
B) helps the organization reach its goals.
C) is very specific.
D) none of the above.
A
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Bertram, Inc. had beginning and ending accounts payable balances of $400 and $450, respectively. Inventory had beginning and ending balances of $450 and $425, respectively. All inventory purchases are made on account. If cost of goods sold equaled $350, how much cash was spent to purchase inventory?
A. $250 B. $275 C. $400 D. $350
Dollars held in foreign country's reserves are held in the form of _________, so they earn interest.
Fill in the blank(s) with the appropriate word(s).
The receivable that is usually evidenced by a formal instrument of credit is a(n)
A) trade receivable. B) note receivable. C) accounts receivable. D) income tax receivable.
In the five forces model the ________ that companies compete against one another for customers, the ___ the level of profits is likely to be for that industry