The level of a firm's receivables is influenced solely by factors outside the financial managers' control.

Which statement best summarizes the general sentiment expressed by stakeholders in describing performance appraisals in Canada?

A) Managers find the process much more worthwhile than employees.
B) A great majority of companies tend to pick one process and stick with it over long periods of time.
C) Managers and employees have little faith that the process leads to valid and reliable results.
D) Employees are much more likely to embrace and find the process valuable.

Modular organizations are dependent on many outsiders.

With the creation and growth of the Internet, vacationers can now book their own flights, hotels, rental cars, and other travel logistics online. If this capability resulted in creative destruction, which of the following industries would we have expected to decline the most as a result?

A) airlines
B) travel agencies
C) tourist information
D) hotels

Deloria Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job T288. The following data were recorded for this job:
The predetermined overhead rate for the Assembly Department is closest to:

A) $3.00 per direct labor-hour
B) $12.70 per direct labor-hour
C) $9.70 per direct labor-hour
D) $5.35 per direct labor-hour

Bustillo Incorporated is working on its cash budget for March. The budgeted beginning cash balance is $39,000. Budgeted cash receipts total $120,000 and budgeted cash disbursements total $114,000. The desired ending cash balance is $59,500. To attain its desired ending cash balance for March, the company needs to borrow:

A) $104,500
B) $14,500
C) $0
D) $59,500