Assets that are not easily converted into cash or are expected to be held for longer than a year are called:
A) current assets.
B) fixed assets.
C) marketable securities.
D) intangible assets.
E) long-term equity.
Question 2 - McDonald's makes many different types of sandwiches, including hamburgers, chicken sandwiches, a fish sandwich, and others. The fast food restaurant also offers many other menu items. The kitchen is organized in a way that makes the production process efficient. In addition, members of McDonald's staff are responsible for various parts of the production process: one person may cook the hamburgers while another person assembles and wraps the sandwich.
Which of the following would be considered an output in the McDonald's example?
A) A Big Mac meal
B) Cheese
C) Sandwich assembly
D) Frying French fries in oil
E) Creating a timeline that details how long each step of the sandwich assembly process should take
Question 3 - Kim's Copy Shop is in the process of organizing its assets in the appropriate order. The manager asks you for help in arranging the following assets: equipment, accounts receivable, cash, merchandise inventory, and notes receivable. You list _____ first and _____ last.
A) merchandise inventory; notes receivable
B) accounts receivable; equipment
C) notes receivable; accounts receivable
D) equipment; accounts receivable
E) cash; equipment
Question 4 - McDonald's makes many different types of sandwiches, including hamburgers, chicken sandwiches, a fish sandwich, and others. The fast food restaurant also offers many other menu items. The kitchen is organized in a way that makes the production process efficient. In addition, members of McDonald's staff are responsible for various parts of the production process: one person may cook the hamburgers while another person assembles and wraps the sandwich.
Which of the following would be considered a production input in the McDonald's example?
A) Sandwich assembly
B) Cheese
C) A Big Mac meal
D) Frying French fries in oil
E) Creating a timeline which details how long each step in the sandwich assembly process should take
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