Which of the following activities affects net income, but has no immediate impact upon cash flows?
A. Collection of an account receivable.
B. Making the end-of-period adjustment to record estimated uncollectible accounts.
C. Investing excess cash in marketable securities.
D. Write-off of an uncollectible account receivable against the allowance.
B
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Krishna and Ravi operate a sari store as a partnership. They agree privately that they will not order supplies over $10,000 without both signatures. When Krishna is on vacation, Ravi orders $20,000 worth of silk
Krishna objects to paying the supplier and wants to return the shipment. The supplier sues the partnership. Which of the following is true? A) the partnership must pay the supplier because private restrictions don't affect outsiders to the partnership B) the partnership must pay because it owes a fiduciary duty to the supplier C) the partnership does not have to pay because Ravi exceeded her authority D) the partnership does not have to pay because Ravi exceeded her apparent authority. E) the supplier has to take back the shipment since there were not two signatures on the contract
________ is an unconscious process created from distilled experience
A) Process consultation B) Action research C) Intuitive decision making D) Active selection E) Emotional intelligence