Business and society 475 Study guides, Class notes & Summaries

BUS 475 Capstone Final Examination Part 2 1. Which of the following is not a current liability on December 31, 2014? • A lawsuit judgment to be decided on January 10,2015 • A Note Payable due December 31 2015 • Accrued salaries payable from 2014 • An Accounts Payable due January 31,2015 2. Continuous monitoring, in the contemporary approach, is beneficial because_____________. • it increases the time it takes to detect changes in the competitive environment • organization response...

BUS 475 Capstone Final Examination Part 2 Vertical analysis is a technique that expresses each item in a financial statement: • in dollars and cents. • as a percent of the item in the previous year. • starting with the highest value down to the lowest value. • as a percent of a base amount. Under the accrual basis of accounting: • cash must be received before revenue is recognized. • net income is calculated by matching cash outflows against cash inflows. • events ...