Darius was giving a presentation to his team about the details of a new project. While presenting, Darius maintained eye contact with each member for three seconds, spoke enthusiastically, and used appropriate enunciation. What element of a credible speaker did Darius display?

A) Dynamism
B) Competence
C) Trustworthiness
D) Persuasion

Which of the following is not an example of a non-current liability with instalment payments?

A) long-term notes payable
B) deferred revenue
C) bank loans payable
D) mortgages payable

Precision Parts Corporation and competitive merchants who deal in goods of the same kind assert that their products are of the proper quality. This is

A) an express warranty.
B) an implied warranty.
C) a warranty of title.
D) puffery.

The purpose of measuring the overall level of prices in the economy is to permit comparison between dollar figures from different times.

Cash Over and Short

A) Fundamental guidelines applicable to all companies established to minimize the risk of fraud and theft and to increase the reliability and accuracy of the accounting records.
B) Short-term, highly liquid investment assets that are readily convertible to cash and close enough to their due date so that their market value will not greatly change.
C) An internal document used to collect information to control cash payments and to ensure that a transaction is properly recorded.
D) An income statement account used to record the income effects of cash overages and cash shortages arising from missing petty cash receipts or errors in making change.
E) A measure of how quickly a company can convert its accounts receivable into cash.
F) Principle that says the costs of internal controls must not exceed their benefits
G) A set of procedures and approvals designed to control cash payments and the acceptance of liabilities.
H) Used by the bank to verify signatures of persons authorized to write checks.
I) A report explaining any differences between the checking account balance according to the depositor's records and the balance reported on the bank statement.
J) The ability of a company to pay for its near-term obligations.

Granger Corporation had $191,000 in sales on account last year. The beginning accounts receivable balance was $22,000 and the ending accounts receivable balance was $32,000. The corporation's average collection period was closest to: (Round your intermediate calculations to 2 decimal places.)

A) 42.0 days
B) 51.6 days
C) 61.2 days
D) 7.1 days