Organizations and individuals that contribute to the movement and the marketing of products and services to consumers for personal use are known as __________.
A. distributors
B. retailers
C. wholesalers
D. agents
E. brokers
Ans: B. retailers
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In a recent case, Revlon sued United Overseas Limited (UOL) in the U.S. District Court for the Southern District of New York for breach of contract. UOL countered by asking the court to dismiss the claim since they are not operating in that area
Revlon cited the presence of a UOL sign above the entrance to the offices of a New York company in which UOL had a 50-percent ownership. The court dismissed UOL's claim. This is an issue related to : A) jurisdiction. B) antitrust. C) dilution of equity. D) bribery and corruption. E) intellectual property.
The inventory system employing accounting records that continuously disclose the amount of inventory is called
A) retail B) periodic C) physical D) perpetual
Which of the following is not a true statement regarding assets as they appear on the balance sheet?
a. Historical cost gives a good indication of the productive value of assets. b. Assets held for sale and measured at net realizable value represent a high degree of certainty as to measurement reliability. c. Certain types of deferred charges do not have any direct effect on future cash flows. d. In terms of additivity, it is questionable if a balance sheet should be added.
When you listen with an open mind, you
A) think you "lose" if you come to agree with the speaker's position. B) seek to analyze why the speaker is taking a certain viewpoint. C) contrast the speaker's facts with your experience. D) apply a subjective frame of reference. E) consider how the speaker looks, sounds, and acts.