Which of the following retailers were the first to adopt the mass-merchandising concept?
A. discount houses
B. supercenters
C. general stores
D. supermarkets
E. department stores
Answer: D
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Which training outcome relates to trainees providing feedback about their satisfaction with a trainer?
A. results B. reactions C. cognitive D. emotional
The accrual basis of accounting requires revenue be recorded when cash is received from customers
Indicate whether the statement is true or false
On May 1, 2010, Stanton Company purchased $50,000 of Harris Company's 12% bonds at 100 plus accrued interest of $2,000. On June 30, 2010, Stanton received its first semiannual interest. On February 1, 2011, Stanton sold $40,000 of the bonds at 103 plus accrued interest. The journal entry Stanton will record on February 1, 2011, will include:
A) a credit to Interest Revenue for $1,200. B) a credit to Gain on Sale of Investments for $1,200. C) a debit to Cash for $41,200. D) a credit to Interest Receivable for $500.
Mitch is a director and officer of Numero Uno, Inc. Mitch makes a marketing decision that results in a dramatic decrease in profits for Numero Uno and its shareholders. The shareholders accuse Mitch of breaching his fiduciary duty to the corporation. What is Mitch’s best defense against this accusation? Later, the Numero Uno board considers a resolution for the firm to compete with One-of-a-Kind Corporation. Mitch is a director and shareholder of One-of-a-Kind. What is Mitch’s responsibility in this situation?
What will be an ideal response?