McKesson Corp., a U.S. pharmaceutical distributor, has a(n) ________ statement, which is "to provide comprehensive pharmacy solutions that improve productivity, profitability and result in superior patient care and satisfaction."
A. purpose
B. vision
C. intention
D. goal
E. mission
E. mission
A mission statement expresses the purpose of the organization. Whether the organization is for-profit or nonprofit, the mission statement identifies the goods or services the organization provides and will provide. Sometimes it also gives the reasons for providing them (to make a profit or to achieve humanitarian goals, for example).
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The allowance for uncollectible accounts is necessary because
A) a liability results when a credit sale is made. B) when recording uncollectible accounts expense, it is not possible to predict specifically which accounts will not be collected. C) management should know how many credit losses have been sustained over the years. D) uncollected accounts that are written off must be accumulated in a separate account.
An analysis in which all the components of an income statement are expressed as a percentage of net sales is called
A) vertical analysis B) horizontal analysis C) liquidity analysis D) common-size analysis
Upon review of Bert's statement of cash flows, the following was noted: Cash flows from operating activities $ 60,000 Cash flows from investing activities (125,000) Cash flows from financing activities 115,000 From this information, the most likely explanation is that Bert is:
A) using cash from operations and selling long-term assets to pay back debt. B) using cash from operations and borrowing to purchase long-term assets. C) using its profits to expand growth. D) using cash from investors to provide for operations.
How is unit cost calculated?
A) Total units divided by total costs B) Sum of all cost drivers C) Total cost divided by units produced D) Total of all costs incurred