The term "usual authority" refers to the authority that an agent has been allowed to exercise in the past
a. True
b. False
Indicate whether the statement is true or false
True
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Answer the following statements true (T) or false (F)
1. A lag indicator is a performance measure that forecasts future performance. 2. Operational performance measures are nonfinancial measures that evaluate a firm's performance on the basis of effectiveness and efficiency to ensure all segments of the business are working together to achieve the company's goals. 3. The balanced scorecard is a performance evaluation system that requires management to consider financial measures of performance, but not nonfinancial measures. 4. Key performance indicators (KPIs) are summary performance measures that help managers assess whether the company is achieving its goals. 5. The balanced scorecard focuses only on lead indicators, because lag indicators are not important for performance evaluation. 6. A company uses a balanced scorecard and has established a key performance indicator for product quality. If the actual warranty claims are higher than expected, there is an indication that the quality standards have been met.
In some cases, particularly when the reissue of treasury stock results from the exercise of employee stock options, the amount paid by the firm to reacquire the treasury shares exceeds the subsequent reissue price. If the firm applied the constructive retirement method, it is unlikely that the reissue price would be so low as to require a debit to _____
a. Additional Paid-In Capital account so long as that account has a sufficiently large credit balance. To the extent the required debit exceeds the credit balance in the Additional Paid-In Capital account, the firm reduces that account to zero and debits the excess to Retained Earnings. b. Additional Paid-In Capital. c. Retained Earnings. d. Net Income. e. Accumulated Other Comprehensive Income.
In the context of Frederick Taylor's theory of scientific management, discuss time-and-motion studies and the differential piece-rate system.
What will be an ideal response?
Office Supplies, Inc. uses a perpetual inventory system. Journalize the following sales transactions for this company. Explanations are not required
July 3 Sold $15,400 of merchandise on account, credit terms are 2/10, n/30 Cost of goods is $9,300. July 7 Received a $750 sales return from the customer. Cost of the goods is $435. July 12 Office Supplies receives payment for the customer for the amount due from the July 3 sale. What will be an ideal response