The ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society

A firm needs spare cash because during economic downturns, sales may fall below expectations while outflows could prove higher than was budgeted. Firms sell their accounts receivable at a discount for the purpose of:

A) obtaining short-term financing B) finance motive C) transactions motive D) speculative motive

Norman Manufacturing reports the following data for the month

Purchases of raw materials, on account $ 55,250 Materials requisitions: Direct materials 49,750 Indirect materials 3,700 Labor incurred (not yet paid): Direct labor 51,000 Indirect labor 2,500 Journalize the entries relating to materials and labor. Omit explanations. What will be an ideal response