Working capital management includes which one of the following?
A. Deciding which new projects to accept
B. Deciding where to purchase a new machines or fix a currently owned machine
C. Determining which customers will be granted credit
D. Determining how many new shares of stock should be issued
E. Establishing the target debt-equity ratio
Ans: C. Determining which customers will be granted credit
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Max Realty paid $3,000 rent on a building in advance for two years on May 1. The amount that should be recorded as rent expense as of December 31 is:
A) $1,000. B) $3,000. C) $1,500. D) $875.
Any action for breach of a sales contract must be begun within:
A) four years after the cause of action accrued. B) five years after the cause of action accrued. C) whatever period of time the parties have set in their contract. D) two years of when the breach actually occurred or within five years of its discovery.