Total cost of goods purchased minus beginning merchandise inventory plus ending merchandise inventory equals cost of goods sold.
Answer the following statement true (T) or false (F)
False
This statement is false. Purchases plus beginning inventory minus ending inventory equals cost of goods sold.
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Distinguish between business markets and consumer markets
What will be an ideal response?
In a simple random sample, ________
A) every member of the population has a known and equal chance of selection B) the population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview C) the researcher selects the easiest population members from which to obtain information D) the population is divided into mutually exclusive groups and random samples are drawn from each group E) the researcher finds and interviews a prescribed number of people in each of several categories
List six of the nine major forces in the external environment of a business organization.
What will be an ideal response?
Jennifer believes that Mark, a new employee, is the most efficient employee in the company. Her basis of this opinion is that Mark was polite and had once helped her find her car keys which she had misplaced in the office. Now, whenever she sees Mark working in the office, she assumes that he is the hardest working employee in the company. Jennifer's belief is an example of the
A. hindsight bias. B. courtesy bias. C. placebo effect. D. halo effect.