Management sets standards that state the amount each salesperson should sell and how sales should be divided among the company's products with ________
A) sales prospecting
B) department quotas
C) sales quotas
D) sales incentives
E) sales contests
C
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Exhibit 9-4 During 2016, the Thomas Company began selling a new type of machine that carries a two-year assurance-type warranty against all defects. Based on past industry and company experience, estimated warranty costs should total $2,000 per machine sold. During 2016, sales and actual warranty expenditures were $4,000,000 (80 machines) and $44,000, respectively. Thomas uses the GAAP approach
of accruing warranty expense (and the related liability) in the year of the sale. ? Refer to Exhibit 9-4. What amount should Thomas report as its estimated warranty liability at December 31, 2016? A) $0 B) $44,000 C) $120,000 D) $116,000
Consumers are able to opt-out of receiving telemarketing solicitations and mail-order catalogs
Indicate whether the statement is true or false
The ________ created the commission that prescribes safety standards for products.
A. Patent and Trademark Office B. Sarbanes-Oxley Act C. Consumer Product Safety Act D. U.S. Labor Department
Jan Whitneyhad a first mortgage on her house of $200,000 with Bank A, a second mortgage of $100,000 with Bank B, and a third mortgage of $100,000 with Bank C. All of these mortgages were registered and in that order
Jan missed her mortgage payments to Bank B. If Bank B forces the sale of the house and the house sells for $250,000 which of the following statements is TRUE? A) Bank A gets $200,000 B) Bank B gets $100,000 C) Bank C gets $50,000 D) Bank A gets $250,000 E) Bank A gets $125,000 and Banks B and C share $125,00