Lou had $1,000 in his savings account at the beginning of a period. He then deposited $1,000 and later withdrew $500. Under the minimum balance method, interest would be paid on $1,500 for the full period
Indicate whether the statement is true or false.
FALSE
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Ultimo Co. operates three production departments as profit centers. The following information is available for its most recent year. Department 1's contribution to overhead as a percent of sales is:Dept.Sales Cost of Goods Sold Direct Expenses Indirect Expenses 1$1,000,000 $700,000 $100,000 $80,000 2 400,000 150,000 40,000 100,000 3 700,000 300,000 150,000 20,000
A. 30.0% B. 52.5% C. 20.0% D. 57.1% E. 35.7%
Which of the following statements is an example of resale in the closing paragraph of a bad-news message?
A) The product you ordered is no longer in stock. B) You chose our best-selling model. C) ?We are happy to send you an alternative product. D) Because we are out of the product you ordered, we are referring you to our competitor.
To transfer contract rights to a third party is:
a. assignment b. delegation c. repudiation d. beneficiary e. none of the other choices
Independently-owned businesses that buy from producers, take legal title to the goods, and then resell them to retailers or to organizational buyers, are called ________
A) agents B) brokers C) merchant wholesalers D) department stores E) manufacturers' representatives