Which of the following is a result of high inventory turnover?
A. Higher risk of product obsolescence
B. A decrease in the cost of goods sold
C. Improved employee morale
D. A decrease in profits
E. An increase in promotions and markdowns
Answer: C
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To develop a strong business message, which word choices should be avoided?
A) Jargon B) Abstractions C) Strong words D) Familiar words E) Buzzwords
Which of the following is NOT true regarding why fraud prevention controls are important?
a. Preventing fraud also saves the family of the perpetrator from embarrassment (guilt by association). b. Once the fraud has been committed, the cost of any legal action taken can cause the victims to lose even more. c. The organization that isn't proactive about possible fraud is more likely to have an employee commit a fraud act. d. Fraud control costs are less than the known costs that would have been lost through fraud.
Scanner panels with cable TV are used primarily for determining prices
Indicate whether the statement is true or false
In July, a company pays three years' insurance in advance. The December 31 adjusting entry is
a. Insurance Expense – Debit; Prepaid Insurance – Credit b. Prepaid Insurance – Debit; Insurance Expense – Credit c. Insurance Expense – Debit; Cash – Credit d. Prepaid Insurance – Debit; Cash – Credit