Which of the following is NOT a business product classification?
A. professional services
B. installations
C. supplies
D. accessories
E. specialty items
Answer: E
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Chuck Olson, age 16, buys a used car from Bobby Duncan Used Cars Center on September 15, 2006. Olson agrees to pay $200 a month for 12 months. A month after the purchase, Olson is involved in an accident that wrecks the car. He immediately calls Duncan Cars and informs them that he is disaffirming the contract. According to traditional common laws, which of the following is most likely to be true?
A. Olson can ask Duncan to pay for the damages as he hasn't made the full payment for the car. B. Olson can successfully press charges and force Duncan to take care of the damages caused to the car. C. Olson has to pay for the damages and then return the car to Duncan. D. Olson does not have a duty to place Duncan in status quo ante.
Production processes that lend themselves to the use of process cost analysis usually have a FIFO product flow within the process
Indicate whether the statement is true or false
Which of the following statements related to the multiple-step income statement is not true?
A. Nonoperating items are reported separately from operations. B. The first section of the statement reports gross profit. C. Subtotals for total selling expenses and general and administrative expenses are reported. D. Shows only one total for expenses. E. Interest revenue is included with other revenue and gains.
An ordinary merger or share exchange requires the recommendation of the board of directors of each corporation
Indicate whether the statement is true or false