In markdown calculations, the original cost of the merchandise is used as the base
Indicate whether the statement is true or false
False
You might also like to view...
Under the Uniform Commercial Code, which of the following statements is true for the identification of goods to the contract?
A. It does not result from the contract description of the goods. B. It is applicable if delivery is to be made without moving the goods. C. It does not result from the actions of the seller, such as setting aside or marking the goods. D. It occurs when the parties use a negotiable document of title when the goods are being shipped.
Quinton sells irrigation equipment to farmers. He tells a prospect, "Did you see how well your neighbor Bill Emerson's crops did last year in spite of the drought? He is one of my long-time customers." What kind of suggestive selling is Quinton using?
What will be an ideal response?
Disney is known for getting people to talk about its products because the firm
A) is the oldest mass media organization in the U.S. B) controls most media outlets either directly or indirectly. C) is a master at cross-promoting. D) uses only public relations and does not advertise. E) prefers to launch products without first performing market research.
Intercompany sales
a. do not need to be eliminated as long as the sales have been completed to an outside party. b. must be eliminated from both the sales and cost of goods sold accounts. c. do not need to be eliminated if made at arm's length values. d. must be eliminated only if not in the ordinary course of trade or business. e. do not need to be eliminated.