Which of the following two things can be found on a balance sheet?
a. revenue and liabilities
b. assets and liabilities
c. assets and expenses
d. revenue and expenses
b
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Business entities that file for bankruptcy under Chapter 7 may be permitted to keep some exempt property.
Answer the following statement true (T) or false (F)
Connor, the owner of a start-up, has studied his competitor's offerings, the value delivered by his company's products, and the cost of providing the product to customers. Based on this research, he has set the prices for his products. Because of this, Connor should:
A. not hesitate in overcharging his customers. B. aggressively discount list prices to ensure customer satisfaction. C. focus solely on price throughout his presentation. D. remember that price is the only concern for customers. E. never apologize for the price he quotes.
The Ramien Store held inventory items at the end of 2014 . Which items should Ramien include as part of its total inventory cost?
a. Freight incurred in shipping goods to customers. b. Annual income taxes paid for operations. c. Cost of storing inventory before it is sold. d. Cost of salaries of clerks that sell the inventory items.
Which of the following is true of satisficers?
a. They are customers that are generally found in the consumer market. b. They consider numerous suppliers and study all proposals carefully before selecting one. c. They place orders with the first supplier that fulfills their requirements. d. They contact both familiar and unfamiliar suppliers when they need to purchase a product.