Which of the following is NOT true of the perpetual inventory method?
a. Purchases are recorded as debits to the inventory account.
b. The entry to record a sale includes a debit to Cost of Goods Sold and a credit to Inventory.
c. After a physical inventory count, Inventory is credited for any missing inventory.
d. Purchase returns are recorded by debiting Accounts Payable and crediting Purchase Returns and Allowances.
D
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In selling highly complex products, such as industrial equipment and accounting systems, salespeople make several sales calls to develop a detailed analysis of a prospect's needs. What kind of sales presentation method is most likely required?
A. Stimulus response B. Need-satisfaction C. Memorized D. Problem-solution E. Formula
Discuss the major influences on business buyers
What will be an ideal response?
International business differs from domestic business in that a firm operating across borders must deal with which of the following additional environmental forces?
A. Sociocultural B. Foreign C. Political D. Competitive E. Geographic
Before a stock dividend can be declared or paid, there must be sufficient cash
Indicate whether the statement is true or false