Plezion Corp. is an independent distributor that connects furniture sellers to its buyers. The company distributes furniture made of plastic, wood, and carbon fiber on a large scale. The company does not take legal ownership of the goods it distributes. In this scenario, it can be said that Plezion Corp. is a(n) _____.
A. retailer
B. agent
C. merchant wholesaler
D. end user
Answer: B
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A company purchased a new delivery van at a cost of $60,000 on July 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of $4800. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?
A. $4600. B. $9200. C. $5000. D. $5600. E. $6480.
Which of the following statements is false about a journal entry?
a. It may have more than one debit or credit entry. b. Credits are always indented. c. Accounts that are increased are always listed first. d. A space should be skipped between journal entries.
Explain what happens during the concept testing stage of new product development
What will be an ideal response?
List the three basic types of production technology.
What will be an ideal response?