Your firm's policy is to respond to some of the comments your customers make on Facebook and Twitter. What should you do when responding to these comments?
A) Use a friendly, upbeat, professional tone.
B) Take this opportunity to name your competitors and explain how much better your products are.
C) Avoid admitting mistakes.
D) You should do all of these when responding.
A
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Answer the following statement true (T) or false (F)
A company that uses the net method of recording purchases and a perpetual inventory system purchased $2300 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $450 worth of merchandise. On July 28, it paid the full amount due. The correct journal entry to record the payment on July 28 is:
A. Debit Merchandise Inventory $1850; credit Cash $1850. B. Debit Accounts Payable $1813; debit Discounts Lost $37; credit Cash $1850. C. Debit Cash $1850; credit Accounts Payable $1850. D. Debit Accounts Payable $2300; credit Cash $2300. E. Debit Accounts Payable $1850; credit Merchandise Inventory $37; credit Cash $1813.
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A. 25% B. 15.5% C. 12.5% D. 8%