Which of the following statements is correct regarding partnerships?
A) Accounting for a partnership is similar to accounting for a sole proprietorship.
B) If the partnership assumes a liability related to an asset invested in the partnership, the asset is debited, the partner's capital account is credited and a liability account is credited.
C) It is necessary to maintain separate Capital and Withdrawals accounts for each partner.
D) All of these choices.
D
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Carpet World Inc reported the following information for 2016 and 2017. 2016 2017 Accounts receivable $51,000 $57,000 Inventories 42,000 39,000 Accounts payable 43,000 48,000 Net income 60,000 Depreciation expense 8,000 If Carpet World uses the indirect method to prepare the operating activities section of the statement of cash flows, what amount will be reported as net cash inflow from operating
activities for 2017? a. $64,000 b. $66,000 c. $68,000 d. $70,000
"The training session was worthwhile; it was worthwhile because employees learned to do the task correctly.". is an example of which of the following techniques used for emphasis?
a. Position b. Repetition c. Words that label d. Passive voice
What is collaborative engineering?
A. Applies technology to the activities in the order life cycle from inquiry to sale. B. Allows an organization to reduce the cost and time required during the design process of a product. C. Helps organizations reduce their investment in inventory while improving customer satisfaction through product availability. D. Enables an organization to react more quickly to resolve supply chain issues.
A firm is trying to determine which of two products it should launch. Product A has an expected life of three years. It will bring in cash flows of $11,000 in each of the three years. Product B has an expected life of two years. It will bring in cash flows of $15,500 in each of the two years. Assume a discount rate of 8%. Which product should the firm, based on NPV alone, select?
a. Product A b. Product B c. Product A and B are equivalent d. NPV for the products cannot be calculated with the information given.