Which of the following is NOT a function of the retailer?
A. Selling directly to consumers as its primary function
B. Reducing the number of transactions required by consumers
C. Making an assortment of goods available in one location
D. Transacting sales without taking title to products it sells
Answer: D
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The difference between the cost of an asset and the accumulated depreciation is the
a. book value of the asset; b. depreciated cost of the asset; c. depreciation expense; d. salvage value; e. current value of the asset.
What should management do to assess the potential benefits from implementing an ERP?
A company's property records revealed the following information about its plant assets:Machine No.CostSalvage ValuePurchase DateEstimated LifeDepreciation Method1$82,000$8,0001/014 yearsStraight-line246,0003,6007/015 yearsDouble-declining-balanceCalculate the depreciation expense for each machine in Year 1 and Year 2 for the year ended December 31.Machine 1: Year 1________ Year 2 ________Machine 2: Year 1 ________ Year 2 ________
What will be an ideal response?
A company reports the following information for June: Sales revenue$104,000 Income tax expense$11,000 Operating expenses 22,000 Cost of goods sold 65,000 Deferred revenues 15,000 Nonoperating revenues 12,000 What is the company's gross profit for June?
A. $104,000. B. $18,000. C. $17,000. D. $39,000.