Emily Holmes owns and operates a large antique shop. She uses the specific identification method to account for transactions that affect inventory. Holmes recently completed a physical inventory of the merchandise in her shop as part of her year-end
work. Today, her accountant called to inform her that it would be necessary to adjust the inventory figure shown on the balance sheet, which will increase Holme's tax liability. Holmes argued that the inventory had to be correct, because she counted it twice and matched every item to an invoice. Cite reasons why the accountant would find it necessary to adjust the inventory even if Holme's count is accurate.
The inventory could have been adjusted for any of the following reasons:
1. Some items purchased and owned were still in transit when Holmes took her physical count.
2. Holmes had some merchandise on consignment or stored at another location.
3. Some items Holmes counted had already been sold but not yet picked up by the buyer.
4. Holmes forgot to add freight costs to the total cost of her inventory.
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Phoenix is planning to increase the sales price to $750. What impact will the increase in sales price have on the contribution margin ratio?
Phoenix was a professional classical guitar player until a motorcycle accident left him disabled. After
long months of therapy, he hired an experienced luthier and started a small shop to make and sell
Spanish guitars. The guitars sell for $700, and the fixed monthly operating costs are as follows:
Phoenix's accountant told him about contribution margin ratios, and Phoenix understood clearly that for
every dollar of sales, $0.60 went to cover his fixed costs, and anything above that point was profit.
A) It will stay the same.
B) It will increase to 53.33%.
C) It will increase to approximately 62.67%.
D) It will decrease to approximately 49.33%.
How does the GLOBE research inform leaders and followers about the different ways in which the various cultural clusters view leadership?
A. the studies identified the four main leadership behaviors in each cluster B. the studies identified the relative importance of the six behaviors in each cluster C. the studies compared/contrasted cluster behaviors by similar geographic location D. the studies compared transformational leader behaviors to the six global leadership behaviors
A company's business model
A. is management's blueprint for how it will generate revenues sufficient to cover costs and yield an attractive profit. B. concerns how management plans to pursue strategic objectives, given the larger imperative of meeting or beating its financial performance targets. C. concerns the actions and business approaches that will be used to grow the business, conduct operations, and stake a competitor's market position. D. deals with how it can simultaneously maximize profits and operate in a socially responsible manner that keeps its prices as low as possible. E. concerns what combination of moves in the marketplace it plans to make to outcompete rivals.
Phrases such as probably, usually, often, soon, and right away can contribute to the communication barrier known as ________
A) noise B) bypassing C) lack of language skill D) frame of reference