Which of the following would NOT be considered a business?
a. a restaurant
b. a gas station
c. an elementary school
d. Wal-Mart
e. UPS
c. an elementary school
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Evelyn's vacuum is at the ________ stage of the product life cycle
A) product development B) introduction C) growth D) decline E) maturity
A measure of the time and effort required to deliver services in relation to their cost is called ____.
A. effectiveness B. efficiency C. quality D. economy
Manufacturing overhead include(s):
a. costs that the firm cannot associate with particular products. b. expenditures for factory utilities, property taxes, insurance, and depreciation on manufacturing plant and equipment. c. expenditures for supervisors' salaries. d. costs that jointly benefit all goods produced during the period, not any one particular item. e. all of the above.
Leo Company reported sales of $200,000 during Year 2. Assume that all sales are credit sales. Leo's balance sheets for Year 2 and Year 1 showed the following: Year 2Year 1Accounts receivable$90,000 $80,000 Accounts payable 64,000 60,000 Based on this information, how much cash did Leo collect from sales during Year 2?
A. $204,000 B. $210,000 C. $190,000 D. $290,000