Which of the following is NOT an asset account:
A. Land
B. Buildings
C. Services Revenue
D. Cash
E. Equipment
Answer: C
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The demand-based pricing approach is suited for situations where ________
A) customers are not very sensitive to changes in the price of products B) the same product can be purchased from multiple sources C) recouping the costs of manufacturing the product becomes essential to survival D) a single market intermediary dominates the entire distribution chain
A firm pursuing a sales objective is more likely to try to satisfy a market segment (instead of a mass market or multiple segments)
Indicate whether the statement is true or false
What is an individual item on a graph or a chart?
A. Data point B. Dirty data C. Data set D. Data map
An income statement for Sam's Bookstore for the first quarter of the year is presented below:Sam's BookstoreIncome StatementFor Quarter Ended March 31Sales $900,000Cost of goods sold 630,000Gross margin 270,000Selling and administrative expenses Selling$100,000 Administration 104,000 204,000Net operating income $66,000On average, a book sells for $50. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed.The contribution margin for Sam's Bookstore for the first quarter is:
A. $774,000 B. $180,000 C. $144,000 D. $756,000