The Garland Advertising Agency provides promotional assistance to small and medium-sized firms that cannot afford to pay the fees charged by large national advertising agencies. Garland would fall into which of the following business product classes?
A. raw materials
B. supplies
C. installations
D. components
E. professional services
Answer: E
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Which amortization method should be used for intangibles that are amortized?
A) a method based on the expected pattern of benefits to be produced by the asset B) a method based on an annual review for impairment C) the straight-line method; all others are inappropriate D) any method is appropriate
All of the following are common methods of obtaining information about applicants except
A. employment applications. B. tests. C. private investigators. D. interviews. E. references.
The agenda for an organizational meeting would probably not include
A. ratification of the acts of the incorporators. B. election of the first board of directors. C. approval and signing of the preincorporation agreement. D. issuance of shares of stock.
The average collection period is the number of days that a firm extends credit to its customers.
Answer the following statement true (T) or false (F)