The best-known self-regulatory group is the ________, which is a voluntary alliance of companies whose goal is to help maintain fair practices.
A. U.S. Department of Justice
B. National Chamber of Commerce
C. Better Business Bureau
D. National Federation of Independent Business
E. Federal Trade Commission
Answer: C
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In an in-transit contract, the risk of loss passes to the buyer at the time the contract is concluded
Indicate whether the statement is true or false
A fee simple absolute is a freehold estate
Indicate whether the statement is true or false
Fayol recommended the use of ________ to show the position and duties of each employee and to indicate which positions an employee might move to or be promoted to in the future.
A. an organizational chart B. unity of direction C. an initiative analysis D. the critical path method (CPM) E. an extensive career plan
Kenai Company sold $600 of merchandise to a customer who used a National Bank credit card. National Bank deducts a 3% service charge for sales on its credit cards. Kenai electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record the collection from the credit card company would be:
A. Debit Accounts Receivable-National $582; debit Credit Card Expense $18 and credit Sales $600. B. Debit Cash of $618 and credit Accounts Receivable-National $618. C. Debit Cash of $618; credit Credit Card Expense $18 and credit Sales $600. D. Debit Cash $582; debit Credit Card Expense $18 and credit Sales $600. E. Debit Cash $582 and credit Sales $582.