Price promotions can dilute brand equity
Indicate whether the statement is true or false
TRUE
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Answer the following statements true (T) or false (F)
1) When a company uses the perpetual inventory system, there is no need to conduct a physical count of inventory. 2) The Merchandise Inventory account should stay current at all times in a perpetual inventory system. 3) In a perpetual inventory system, the entry that adjusts the Merchandise Inventory account based on the physical count equals the merchandise inventory balance before adjustment less actual merchandise inventory on hand. 4) The entry to record inventory shrinkage includes a debit to the Merchandise Inventory account. Assume a perpetual inventory system is used. 5) If a physical count of inventory indicates that the Merchandise Inventory account is overstated, an adjusting entry is required to record the difference. Assume a perpetual inventory system is used.
October November December Budgeted S&A Expenses Salary expenses10,000 10,500 11,000 Sales commissions, 5% of sales5,000 5,500 5,300 Insurance expenses2,000 2,000 2,000 Rent2,400 2,400 2,400 Depreciation on equipment1,500 1,500 1,500 Utilities1,100 1,300 1,500 Total operating expenses22,000 23,200 23,700 Schedule of Cash Payments for S&A Expenses Salary Expenses? 10,500 ? 100% of prior month sales commissions5,100 ? ? Insurance Expense2,000 2,000 2,000 Rent? ? 2,400 100% of Prior months utilities expenses1,200 ? ? Total payments foe S&A expenses? ? ? What is the amount of sales commissions payable that the company will report on its pro forma balance sheet at the end of the fourth quarter?
A. $5,500 B. $11,000 C. $5,300 D. $5,000
Which of the following is NOT offered as evidence in support of the endosymbiotic theory, which proposes that eukaryotic cells have evolved as a "committee" of prokaryotic cells?
A. The ribosomes of chloroplasts and mitochondria are similar to bacteria. B. Mitochondria and chloroplasts have their own DNA coding separate from the eukaryotic nucleus. C. Mitochondria and chloroplasts are similar in size and structure to some species of bacteria. D. Mitochondria and chloroplasts can actively break away from eukaryotic cells and live on their own. E. All of the choices offer support of the endosymbiotic theory.
To interpret a speaker’s message accurately we may do all of the following EXCEPT
a. relate what the speaker says to what we already know. b. compile questions to ask to clarify things. c. paraphrase the speaker’s thoughts in our own words. d. pay attention to your inner thoughts more than to the speaker.