Nab Financial Questions Study Guide Graded A+

What is meant by physical inventory? {Ans: The actual counting of goods and materials on hand at any given time.}Why would a company use a capital budget? {Ans: It is used for large expenditures such s real estate, buildings and equipment.}Not for profits may qualify for _____________ under IRS rules. {Ans: Grants}When accepting orders, what are 2 things that must be taken into account? {Ans: The full order was received and the items are in usable condition.}How much, according to CMS, is the minimum cost for a capital expenditure? {Ans: $5000.00}It is legal to ask an applicant, pre-offer, how many days they were absent from work last year. {Ans: True}