Mrs. Lex realized a $78,400 gain on sale of investment land to S&T, which issued a 10-year note in full payment. Mrs. Lex must recognize the gain in the year of sale unless she elects to use the installment sale method to recognize gain over the term of the note.
Answer the following statement true (T) or false (F)
False
The installment sale method is the default - Mrs. Lex can elect not to use it.
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Gross profit represents the mark-up on ________.
A) sales revenue B) merchandise inventory C) operating expenses D) transportation cost
In the future, the developed countries will contribute more to world growth than the emerging countries
Indicate whether the statement is true or false
Which of the following is true of a land contract?
A. If a buyer defaults, the seller does not have the right to declare a forfeiture. B. The title to property is conveyed if partial payment has been made. C. The trustee holds legal title to the property put up as security. D. The seller agrees to convey the title when the full price is paid.
Which aspect of computerization is best used for retail training?
a. computerized checkouts b. videoconferencing c. electronic point-of-sales systems d. simulation