Which of the following does NOT describe many home-based businesses in the United States?
A) 1- or 2-person operations
B) high use of Web technology
C) primary emphasis on product sales
D) financed for less than $10,000
E) comprise one-half of new small businesses
Answer: C
Explanation: C) Many home-based businesses offer services ranging from software development to transcription and tutoring.
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How is days to collect accounts receivable determined?
a. 365 days divided by accounts receivable turnover. b. Net sales divided by 365. c. Net sales divided by average net trade receivables. d. Accounts receivable turnover divided by 365 days.
Which of the following statements is not true of cooperative housing?
A) The cooperative holds the mortgages on the individual units. B) The cooperative has a corporate form with the individual owners holding shares in the corporation. C) The shareholders lease the individual units from the corporation. D) The shareholders can sell their ownership in the cooperative to anyone they want.