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Peregrine Exam Questions And Answers With Verified Solutions Already Passed!!!
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Peregrine Exam Questions And Answers With Verified Solutions Already Passed!!!
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Peregrine Exam Questions And AnswersWith Verified Solutions Already
Passed!!!
When the costs of supplies increase in an industry, the low cost leader_____ -
ANSWER✔✔ is the only firm able to pay the higher prices and continue to earn
average or above average returns
Accounts Payable - ANSWER✔✔ current liability account in which a company
records the amounts it owes to suppliers or vendors for goods or services that it
recieved on credit
accounts receivable - ANSWER✔✔ current asset account in which a company
records the amounts it has a right to collect from customers who received goods
or services on credit
what is the cost of goods sold? - ANSWER✔✔ the total cost of merchandise sold
during a period
owners equity - ANSWER✔✔ one of the three main sections of a sole
proprietorship's balance sheet
cash - ANSWER✔✔ includes the following: currency and coins, checks received
from customers but not yet deposited, checking accounts, and petty cash
cash equivalents - ANSWER✔✔ short-term high liquidity investments with a
maturity date that was 3 months or less at the time of purchase. Ex) money
market accounts, U.S. Treasury Bills, and commercial paper
, when a business erroneously records expenses as assets, it has violated the
measurement of _____ - ANSWER✔✔ classification
lying by omission involves intentionally - ANSWER✔✔ withholding material facts
The Federal Highway Administration uses notice-and-comment rulemaking. this
process begins with - ANSWER✔✔ the publication of a notice of proposed
rulemaking
one way human resource planning links to strategic planning is by providing a set
of inputs into the ______ - ANSWER✔✔ strategy formulation process
which of the following is not one of W. Edwards Deming's 14 points? -
ANSWER✔✔ the only performance standard is zero defects
operating statement is another name for the ______ - ANSWER✔✔ Income
Statement
Purchases, returns and allowances, and purchase discounts are classified as
_______ on the income statement - ANSWER✔✔ contra-cost accounts
law of supply - ANSWER✔✔ states that the quantity of a good supplied (I.E. the
amount owners or producers offer for sale) rises as the market price rises, and
falls as the price falls
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