Suppose International Trading Enterprises purchased 25,000 kilograms of Belgian chocolate for a price of 100,000 euros. If the current exchange rate is .77000 euros to the U.S. dollar, what is the purchase price of the chocolate in dollars?
A) $19,250
B) $770,000
C) $77,000
D) $129,870
Answer: D
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A) back ordering B) using part-time workers C) counterseasonal product mixing D) changing price E) promotion
A loss resulting from application of the lower-of-cost-or-market rule is included in cost of goods sold if the loss is material in amount.
Answer the following statement true (T) or false (F)
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A) through a full-service stockbroker B) through a discount broker C) through your bank D) through a New York Stock Exchange broker E) through JP Morgan
Costs that the manager does not have the power to determine or at least significantly affect are:
A) Variable costs. B) Uncontrollable costs. C) Indirect costs. D) Direct costs. E) Joint costs.