Which of the following formulas represents cost of goods sold for a merchandising business?
A) Beginning Merchandise Inventory - Ending Merchandise Inventory = Cost of Goods Sold
B) Purchases and Freight In - Ending Merchandise Inventory = Cost of Goods Sold
C) Ending Merchandise Inventory + Purchases and Freight In - Beginning Merchandise Inventory = Cost of Goods Sold
D) Beginning Merchandise Inventory + Purchases and Freight In - Ending Merchandise Inventory = Cost of Goods Sold
D
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From a group of six people, two individuals are to be selected at random. How many selections are possible?
A. 12 B. 36 C. 15 D. 8
An instrument which reads "For deposit only" is an example of a ________ indorsement.
A. restrictive B. blank C. qualified D. special
Employees at Wegners Market began unionizing activities after a series of promotions and job transfers at the firm were handled in a biased manner. They were motivated by
A. dissatisfaction with management. B. economic needs. C. political needs. D. social and status needs.
A major corporation is considering a capital budgeting project that involves the development of a
new technology. The controller estimates the net present value to be negative, yet argues that the company should invest in the project. Which of the following statements is MOST correct? A) The controller should be fired for making such a poor decision. B) The controller may be considering the option to expand or modify the project in the future. C) Capital rationing may exist for the current year. D) The profitability index may be greater than one, giving an accept decision.