Which of the following statements is NOT correct?

a. The voucher system is used to improve control over cash disbursements.
b. The sum of the paid vouchers represents the voucher payable liability of the firm.
c. The voucher system permits the firm to consolidate payments of several invoices on one voucher.
d. Many firms replace accounts payable with a voucher payable system.

B

Business

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A company is evaluating three possible investments

Each uses the straight-line method of depreciation. Following information is provided by the company: Project A Project B Project C Investment $230,000 $54,000 $230,000 Residual value 0 12,000 36,000 Net cash flows: Year 1 56,000 38,000 94,000 Year 2 56,000 29,000 64,000 Year 3 56,000 25,000 74,000 Year 4 56,000 22,000 34,000 Year 5 56,000 0 0 What is the accounting rate of return for Project B? (Round your answer to two decimal places.) A) 38.14% B) 26.19% C) 54.55% D) 51.83%

Business

Descriptive research, in contrast to exploratory research, is marked by all of the following except ________

A) a clear statement of the problem B) specific hypotheses C) detailed information needs D) flexibility

Business