A sales promotion trap can result when several competitors use promotions extensively.
Answer the following statement true (T) or false (F)
True
A potential problem with consumer-oriented promotions is that a sales promotion trap or spiral can result when several competitors use promotions extensively.
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The final step in the master budget process is preparation of the _________________________
Fill in the blank(s) with correct word
The Lily Company uses the percent of receivables method of accounting for uncollectible accounts receivable, and a perpetual inventory system. As of January 1, its net accounts receivable totaled $192,000 (Accounts Receivable $200,000 less an $8,000 Allowance for Doubtful Accounts). During the current year, the following transactions occurred. 1)Merchandise costing $1,050,000 was sold on account for $1,400,000. 2)The company collected $1,294,000 from customers on account.3)$6,000 of accounts receivable were deemed uncollectible and written off.4)$1,000 of accounts receivable previously written off as uncollectible were recovered.5)At year-end, Lily Company estimates that 4% of its accounts receivable are uncollectible.Prepare journal entries to record these transactions.
What will be an ideal response?
The dimension of personality from the Big Five model that focuses on being outgoing, sociable, assertive, and talkative is
a. Openness to Experience b. Conscientiousness c. Neuroticism d. Extraversion
Bob, a house painter, contracts with Ollie to paint a rental house which Ollie owns. Bob hires Rob to take his place as the painter on this contract. What has Bob done?
a. Made a scrivener's error b. Severed the contract c. Delegated his duties d. Assigned his rights