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NEW QUESTION: 1
Jumbo, Inc. had sales of $8,000 in November, $14,000 in December, and projects sales of $10,000 in January, $12,000 in February, and $8,000 in March. The firm's COGS in any given month is equal to
7 0% of the next month's sales. The firm collects its receivables in 60 days and pays its payables in 30 days. The firm begins January 1 with $10,000 in cash. All sales and purchases are on credit. There are no other costs or revenues. What is Jumbo's accounts payable at the end of January? Assume there are 30 days in every month.
A. $5,600
B. $8,400
C. $9,200
Answer: B
Explanation:
Since the payables period is 30 days, the A/P balance will equal January purchases. How much was purchased in January?
NEW QUESTION: 2
Many years ago, beavers were introduced to a region of California that they had not previously inhabited. Forty years later, the beaver population had grown so much that a cluster of aspen trees used by the beavers for food and building materials inside the national forest became endangered. The beavers were also interfering with the water systems.
In retrospect, how would biologists most likely evaluate the impact of the introduction of the beaver?
A. a model program for other animals
B. having no significant effect on the forest ecosystem
C. very successful from an ecological viewpoint
D. an important tool for controlling the aspen population
E. a disruption of the forest ecosystem
Answer: E
NEW QUESTION: 3
A company has established its environmental audit activity as part of its legal department rather than part of its internal audit activity, which reports to the audit committee. The board has requested that the chief audit executive (CAE) provide an annual opinion on whether environmental risks are being properly addressed. In these circumstances, the CAE should recommend to the audit committee that the internal audit activity:
A. Periodically carry out a quality assessment of the environmental audit activity.
B. Include a review of environmental issues in some internal audit engagements.
C. Review the recommendations in all environmental audit reports.
D. Discuss with the environmental auditors the results of their reviews.
Answer: A
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