Lucent Technology maintains a gross margin of 40% on all of its merchandise. In April the company had a beginning inventory of $518,700, net purchases of $312,400, and net sales of $750,400. Use the gross profit method to estimate the cost of ending inventory as of March 31.
A. $380,860
B. $329,940
C. $120,000
D. $156,160
Answer: A
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The idea of a mutual fund is based on the idea of pooled diversification.
Answer the following statement true (T) or false (F)
Douglas pays Selena $45,000 for her 30% interest in a partnership with total net assets of $125,000 . Following this transaction, Douglas' capital account should have a credit balance of
a. $37,500 b. $45,000 c. $13,500 d. more than $45,000
Which of the following accurately identifies a difference between habitual decision making and extended problem solving?
A) Extended problem solving uses behavioral learning, while habitual decision making relies upon cognitive learning. B) Consumers engaged in extended problem solving perceive less risk than consumers involved in habitual decision making. C) The level of involvement for habitual decision making is lower than it is for extended problem solving. D) Habitual decision making involves significant cognitive dissonance, while extended problem solving rarely involves cognitive dissonance. E) Consumers who are seeking to develop their loyalty to a brand would be more likely to make habitual decisions than use extended problem solving.
Which of the following forms the base of all operating budgets?
A) Direct materials purchases in units B) Production budget (units) C) Capital expenditures budget D) Unit sales forecast