In a backflush accounting system, a single account is used for the following:
a. Work in process and finished goods inventories.
b. Finished goods inventories and cost of goods sold.
c. Factory overhead and raw materials.
d. Labor and overhead.
d
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The annual interest expense on a $50,000, 15-year, 1 . percent bond issued for $45,650 plus accrued interest 6 months after authorization, assuming straight-line amortization, would be
a. $5,300 b. $5,025 c. $5,000 d. $4,975
The lower-of-cost-or-market basis for inventory valuation is a conservative accounting policy because
a. it recognizes losses from decreases in market value before the firm sells goods. b. it does not record gains from increases in market value before a sale takes place. c. it reports inventories on the balance sheet at amounts that are never greater, but may be less than acquisition cost. d. all of the above e. none of the above
McDonald's fell victim to confused positioning in the 1990s after introducing too many new products which caused customers to lose track of what the core brand was.
Answer the following statement true (T) or false (F)
The immediacy and personalization of social networks and, more broadly, the web itself set up the environment for ________.
A. green marketing B. viral marketing C. newspaper advertising D. predatory pricing E. prosocial marketing