Zinke Company understated its ending inventory at the end of Year 1. Which of the following correctly states the effect of the error on the amounts shown on the Year 1 financial statements?
A. Overstatement of total assets and cost of goods sold.
B. Overstatement of cost of goods sold and retained earnings.
C. Understatement of total assets and gross margin.
D. Understatement of liabilities and retained earnings.
Answer: C
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A marketing decision support system (MDSS) is a ________
A) basic system used by companies that do not have the resources to develop a marketing information system (MIS) B) popular syndicated research report purchased by most major media companies C) sophisticated information system that allows marketing managers to use statistical and modeling software tools D) type of custom research report often called for in the marketing research process E) data warehouse used to support a marketing information system (MIS)
Calculate the gross margin ratio for each of the following separate cases A through C: ?ABCNet sales$145,000$623,500$37,800Cost of goods sold 83,600 269,200 13,230
What will be an ideal response?
Bracken Clinic uses client-visits as its measure of activity. During September, the clinic budgeted for 2,100 client-visits, but its actual level of activity was 2,140 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for September:Data used in budgeting: Fixed element per month Variable element per client-visitRevenue $44.50Personnel expenses$26,100 $12.60Medical supplies 600 7.20Occupancy expenses 6,500 2.40Administrative expenses 3,100 0.10Total expenses$ 36,300 $ 22.30Actual results for September: Revenue$93,240 Personnel expenses$50,754 Medical supplies$15,328 Occupancy expenses$11,646 Administrative expenses$3,394 The revenue variance for September would be closest to:
A. $1,990 F B. $1,990 U C. $210 U D. $210 F
Legislative rules may, in certain circumstances, exceed the authority granted to an agency by the enabling statute
a. True b. False Indicate whether the statement is true or false