Parsimony is important in industrial marketing because it is inefficient to pursue too many segments
Indicate whether the statement is true or false
TRUE
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A company receives $200, of which $8 is for sales tax and $12 is for excise tax. The journal entry to record the sale is:
A) Cash 180Sales 180 B) Excise Tax Expense 12Sales Tax Expense 8Cash 180Sales 200 C) Sales 200Cash 200 D) Cash 200Sales Tax Payable 8Excise Tax Payable 12Sales 180
Production and sales estimates for June are as follows: Estimated inventory (units), June 1 21,000 Desired inventory (units), June 30 19,000 Expected sales volume (units): Area X 7,000 Area Y 4,000 Area Z 5,500 Unit sales price $20 The number of units expected to be manufactured in June is:
A) 10,000 B) 11,500 C) 14,500 D) 12,500
Compton Corporation is a wholesale distributor of educational CD-ROMs. The company's records indicate the following: This YearLast YearUnits Sold 250,000 200,000Sales$1,250,000 $1,000,000Cost of goods sold 875,000 700,000Gross margin 375,000 300,000Selling and administrative expenses 222,000 210,000Net operating income$153,000 $90,000 Using the high-low method of analysis, what are the company's estimated variable selling and administrative expenses per unit?
A. $0.88 B. $0.96 C. $0.24 D. $4.17
Only personal property, not real property or persons, can be the subject of a bailment.?
Indicate whether the statement is true or false