Retailers like McDonald's, American Eagle, and Apple Computer sell a large number of gift cards. Explain how these companies account for the sale of gift cards.
What will be an ideal response?
When a company receives cash in advance through the sale of gift cards, it debits Cash and credits a current liability account called Deferred Revenue. When customers redeem gift cards for goods or services, the company debits Deferred Revenue and credits Sales Revenue.
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Public speaking anxiety (PSA) affects what percentage of all speakers?
a. 10–20% b. 30–40% c. 40–80% d. 80–100%
What are the two demonstration techniques commonly used as approaches in sales presentations?
What will be an ideal response?
For accounting purposes, the business entity should be considered separate from its owners if the entity is
A) a corporation B) a proprietorship C) a partnership D) all of the above
_____ is the practice of marking up prices by 100 percent (or doubling the cost to set the selling price).
A. Margin pricing B. Keystoning C. Mark-on adding D. Formula doubling E. Symmetrical pricing