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Author Question: The operating cycle for a merchandising firm is ________. A) obtain cash from stockholders, ... (Read 119 times)

Lobcity

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on: Jul 5, 2018
The operating cycle for a merchandising firm is ________.
 
  A) obtain cash from stockholders, invest cash in equipment, earn more cash
  B) borrow cash from lenders, earn cash from customers, repay lenders
  C) start with cash, buy inventory, sell inventory to customers, collect cash from customers
  D) issue stock to owners, earn a profit, pay dividends to owners

Question 2

Regarding internal control systems:
 a. ultimate ownership of the system should rest with the board of directors.
  b. a properly implemented system can be expected to provide 100 percent assurance that the organization will meet its objectives.
  c. both a. and b.
  d. neither a. not b.


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mohan

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Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

D


Lobcity

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Reply #2 on: Jul 5, 2018
Correct answers!


mohan

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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