Describe the difference between initial markup and maintained markup.
What will be an ideal response?
The initial markup is the retail selling price initially set for the merchandise minus the cost of the merchandise. The maintained markup is the actual sales realized for the merchandise minus its costs.
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A company providing maintenance services on equipment for a fixed periodic fee would recognize
a. an equal amount of service revenue for each act. b. service revenue over the fixed period by the straight-line method. c. service revenue in proportion to the direct costs to the provider of the services to perform each act. d. service revenue only when the fixed period has ended.
Which of the following types of liability do limited partners of a limited partnership have for the debts and obligations of the limited partnerships?
A) unlimited personal liability B) liability restricted to debts up to their capital contributions C) liability of termination as partner D) unlimited organizational capital liability
Trice is a fellow student who heard about your business idea and put you in contact with his brother-in-law who might have similar interests. What is the role that Trice is playing?
a. a mentor b. a self-selected stakeholder c. a role model d. he is just being nice guy
Use the information in Scenario 9.7. What service level does a reorder point of 1,524 imply?
A) less than or equal to 50% B) greater than 50% but less than or equal to 55% C) greater than 55% but less than or equal to 60% D) greater than 60%