Last Year, Foley Inc

question 35

Multiple Choice

Last year, Foley Inc.reported net fixed assets of $400, net working capital of $100, net income of $120, dividends of $70, and earnings retained in the period of $50.What is Foley Inc.'s internal growth rate?

• A)17.5 percent
• B)30 percent
• C)10 percent
• D)12.5 percent

Comprehend the process of recording bills and managing payments in QBO.

differentiate between invoices and other financial documents in QBO.

Describe the purpose and process of a 3-way match in internal controls.

Understand the classification and management of inventory in QBO.

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Definitions:

Suboptimal Decisions

Choices or decisions made that are not the best possible ones, often resulting in less efficient or effective outcomes than could have been achieved.

Decentralisation

The distribution of decision-making power and operational responsibilities away from a central authority to lower levels in an organization.

Responsibility Accounting

An accounting system that collects, summarizes, and reports financial information related to the responsibilities of individual managers or departments.

Goal Congruence

The alignment of individual objectives and actions with the overall goals and objectives of an organization.