Use Rizwi Corporation's List of Accounts at December 31, 2016

question 164

Multiple Choice

Use Rizwi Corporation's list of accounts at December 31, 2016 to answer the following question. Rizwi Corporation
List of Accounts at December 31, 2016
$\begin{array}{lrlr}\text { Cash } & \$ 30,000 & \text { Accumulated depreciation } & \$ 12,000 \\\text { Merchandise inventory } & 14,000 &\text { Notes payable- } & 120,000 \\\text { Land } & 40,000&\text { Due12/31/2024 } & \\\text { Buildings } & 80,000&\text { Accounts payable } & 14,000 \\\text { Accounts receivable } &25,000& \text { Equipment } & 33,000 \\& & \text { Notes Payable- } & 14,000\\&&\text { Due07/01/2018 }\\\end{array}$ ? What is Rizwi Corp.'s current ratio?

• A) 0.48 to 1
• B) 2.00 to 1
• C) 2.55 to 1
• D) 2.86 to 1

Differentiate between policies, procedures, rules, and their applications in organizational settings.

Recognize the role of financial, operating, and other types of budgets in resource allocation.

Understand the significance of policies in shaping organizational behavior and decision-making.

Identify the purposes and characteristics of single-use and standing plans within organizations.

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Definitions:

Relativism

The doctrine that knowledge, truth, and morality exist in relation to culture, society, or historical context, and are not absolute.

Principalism

An approach to ethics that relies on the application of specific principles, such as autonomy, beneficence, non-maleficence, and justice, in decision making.

Subcultural Influences

The impact of the customs, beliefs, and practices of a subculture on its members or on the wider society.

Multicultural

Relating to, or representing several different cultures or cultural elements.