What is a backward vertical merger?
A) a vertical merger between two or more companies that compete in the same business and geographical market
B) a vertical merger between two companies in similar fields whose sales do not overlap
C) a vertical merger in which a supplier acquires a customer
D) a vertical merger in which a customer acquires a supplier
D
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In his 2010 State of the Union address, U.S. President Barack Obama vowed to double U.S. exports by 2015. To this end, President Barack Obama created a National Export Initiative and established the President's Export Council
What is meant by export marketing and export selling?
Loyal customers are often more ________ than customers who need price inducements to switch or become a new customer
A) price-sensitive B) price-insensitive C) critical about quality D) expensive
Which of the following best describes who may be a partner in a limited partnership?
A) An individual, corporation, and an estate, only B) An individual, corporation, and a limited partnership only C) An individual only D) An individual, corporation, limited partnership and an estate E) An individual and a corporation only
On December 1, Milton Company borrowed $300,000, at 8% annual interest, from the Tennessee National Bank. Interest is paid when the loan matures one year from the issue date. What is the adjusting entry for accruing interest that Milton would need to make on December 31, the calendar year-end?
A. debit Interest Expense, $2,000; credit Interest Payable, $2,000. B. debit Interest Payable, $2,000; credit Interest Expense, $2,000. C. debit Interest Expense, $2,000; credit Cash, $2,000. D. debit Interest Expense, $24,000; credit Interest Payable, $24,000. E. debit Interest Expense, $4,000; credit Interest Payable, $4,000.