Currency arbitrage tends to result in identical yen/dollar exchange rates in New York and in Tokyo.
a. True
b. False
a. True
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Answer the following statements true (T) or false (F)
1) Weighted average cost per unit is determined by dividing the cost of goods available for sale by the number of units available. 2) The Organizer Store uses the weighted-average inventory costing method in a perpetual inventory system. The unit cost of the beginning inventory for inventory item X500 was $10 per unit. There was one unit in beginning inventory. The first purchase of the period has a unit cost of $12 per unit. Multiple units were purchased. The weighted average cost per unit is $11. 3) In a period of rising costs, the first-in, first-out (FIFO) method results in a lower cost of goods sold and a higher gross profit than the last-in, first-out (LIFO) method. 4) In a period of rising costs, the last-in, first-out (LIFO) method results in a lower cost of goods sold and a higher net income than the first-in, first-out (FIFO) method. 5) In a period of rising costs, the first-in, first-out (FIFO) method results in a higher cost of goods sold and a lower gross profit than the last-in, first-out (LIFO) method.
Liquidity ratios measure the degree of protection of long-term suppliers of funds
Indicate whether the statement is true or false
Complete the following by filling in the blanks: (1) The Prepaid Insurance account had a $545 debit balance at the beginning of the current year; $650 of insurance premiums were paid during the year; and the year-end balance sheet showed $420 of prepaid insurance; consequently, the income statement for the year must have shown $________ of insurance expense.(2) The Office Supplies account began the current year with a $235 debit balance; the income statement for the year showed $475 of office supplies expense; and the year-end balance sheet showed the current asset, office supplies, at $275; consequently, if all supplies were accounted for, $________ of office supplies must have been purchased during the year.
What will be an ideal response?
A typical salesperson's product knowledge should primarily include:
A. the product's FAB. B. how the product is made. C. the product's AIDA sequence. D. who invented the product. E. the product's SELL sequence.