Marco Insurance acquired shares of Penny Systems' common stock on December 28, 2013, for $400,000 and classified them as trading securities. The fair value of these securities on December 31, 2013, was $402,000 . Marco Insurance sold these shares on January 3, 2014, for $405,000. (Refer to Marco Insurance.) The total income from the purchase and sale of these securities is
a. $5,000
b. $4,000
c. $3,000
d. $2,000
e. $1,000
A
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Indicate whether the statement is true or false
What is not a correct statement concerning consumer protection legislation?
A) It prohibits the consumer from suing in his or her own right and gives the right to sue solely to an agency or to the attorney general. B) It recognizes that the theoretical right of the consumer to sue may be of little practical value. C) It provides special remedies. D) It provides certain agencies to police statutes passed to aid consumers.
Wal-MartWal-Mart, the world's largest retailer by revenue, announced that it will get back to its founder's roots by initiating more price cuts. Critics claimed that the giant was getting away from its original focus because it posted relatively high gross profit margins. CEO Mike Duke assuaged critics by saying Wal-Mart's $400 billion in sales will become even larger because the price cuts will attract more customers and it will lower its costs of goods sold.Refer to Wal-Mart. Which type of pricing strategy describes Wal-Mart's commitment to offer consistently lower prices?
A. high-low pricing B. everyday low pricing (EDLP) C. promotional pricing D. prestige pricing E. marginal pricing
The number of units expected to be sold is uniformly distributed between 300 and 500 . If r is a random number between 0 and 1, then the proper expression for sales is
a. 200(r) b. r + 300 c. 300 + 500(r) d. 300 + r(200)