________ factors are the combination of social and cultural factors that affect individual development.
Fill in the blank(s) with the appropriate word(s).
Sociocultural
The society and culture we live in help to shape our beliefs, values, and norms, which, in turn, define our tastes and purchasing habits.
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Matthew Martin, the sole stockholder of Innovation Consulting, started the business by investing $40,000 cash in exchange for common stock. Identify the general journal entry below that Innovation Consulting will make to record the transaction.
A.
| Cash | 40,000 | |
| Common Stock | 40,000 |
B.
| Cash | 40,000 | |
| Note Payable | 40,000 |
C.
| Common Stock | 40,000 | |
| Cash | 40,000 |
D.
| Investments | 40,000 | |
| Common Stock | 40,000 |
E.
| Accounts Receivable | 40,000 | |
| Cash | 40,000 |
Managers can use variable costing information for internal decision making, but they must use absorption costing for external reporting purposes.
Answer the following statement true (T) or false (F)
A difficulty in the study of motives is that _____
a. motives can be observed b. a researcher needs to distinguish between rational and irrational motives c. it is based on self-reports of consumers d. a consumer's motives may be related to his/her demographic characteristics
An agency relationship arises between the customer and the bank when the customer writes a check on his or her account
Indicate whether the statement is true or false