Challenging yourself to look at the organization in new ways describes the impertinence characteristic that a systems analyst should exhibit during the requirements determination phase
Indicate whether the statement is true or false
FALSE
Explanation: Reframing, not impertinence, includes challenging yourself to look at the organization in new ways.
CL
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Which of the following is considered an unusual item affecting the prior period's income statement?
a. a change in accounting principles b. fixed asset impairments c. an extraordinary item d. discontinued operations
Carlton, Inc presented the following information in a note to its financial statements for the year ending December 31, 2016: The company has a loan agreement with Beachside Bank that states: 1 . The current ratio should remain at least 2.0 to 1 at all times. 2 . The debt-to-equity ratio should not exceed .7 to 1 at any time. 3 . The times-interest-earned should be 5.0 or better. 4 . The
inventory-turnover should be 4.0 or better. The ratios at year-end are: current ratio, 2.3 to 1; debt-to-equity ratio, .6 to 1; times-interest-earned, 7.1; and inventory-turnover, 3.7 . Which of the following statements is true? a. Carlton was in default because of the inventory turnover. b. Carlton was in default because of the current ratio. c. Carlton was in default because of the debt-to-equity ratio. d. Carlton was in default because of the times-interest-earned.
On July 9, Mifflin Company receives an $8,500, 90-day, 8% note from customer Payton Summers as payment on account. What entry should be made on the maturity date assuming the maker pays in full, and no adjusting entries have been made related to the note? (Use 360 days a year.)
A. Debit Cash $8,613; credit Interest Revenue $113; credit Notes Receivable $8,500. B. Debit Cash $8,628; credit Interest Revenue $128; credit Notes Receivable $8,500. C. Debit Notes Receivable $8,500; debit Interest Receivable $170; credit Sales $8,670. D. Debit Cash $8,670; credit Interest Revenue $170; credit Notes Receivable $8,500. E. Debit Cash $8,500; credit Notes Receivable $8,500.