Franklin Company is a medium-sized manufacturer of bicycles. During the year a new line called "Radical" was made available to Franklin's customers. The break-even point for sales of Radical is $250,00 . with a contribution margin ratio of 40 percent. Assuming that the profit for the Radical line during the year amounted to $80,000 . total sales during the year would have amounted to:
a. $450,000.
b. $420,000.
c. $400,000.
d. $475,000.
a
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Under U.S. law, a(n) ___________duty is levied when the U.S. Department of Commerce determines a class or kind of foreign merchandise is being sold at less than fair value (LTFV).
a. dumping b. antidumping c. margin of dumping d. below-cost sales
Sales returns affect net cash collections when a customer has the right to return a product for a refund, and the firm can reasonably estimate the amount of returns at the time of sale, U.S. GAAP and IFRS
a. require that the firm use the allowance method to estimate and recognize the effects of returns. b. the selling firm debits a revenue contra account for expected returns to reduce current period revenues to the estimated amount that will not be returned. c. require that the firm measures revenues based on the amount of cash it expects to collect from current period sales. d. preclude revenue recognition when customers have the right to return goods unless the firm can reasonably estimate the amount of returns. e. all of the above
To demonstrate your humility, openly share at least one personal weakness with the interviewer
Indicate whether the statement is true or false
Which of the following is NOT one of the external responsibilities of a project manager?
a. Report project status b. Assess project risks c. Work with the client d. Identify resource needs