When using the periodic inventory system, the Merchandise Inventory account is ________.
A) not used
B) never used when recording purchase discounts, or returns of inventory
C) replaced on the balance sheet with the Purchases account
D) updated after each sale
B) never used when recording purchase discounts, or returns of inventory
You might also like to view...
The Fed measures the money supply following a system based mainly on
A. the liquidity and size of various bank accounts. B. the interest rate on different assets. C. the correlation of different assets with GDP growth. D. legal requirements.
A firm which has a high level of commitment from both a market and competence orientation is described as having a(n) ________________ configuration.
a. Constricted philanthropy b. Peripheral philanthropy c. Dispersed philanthropy d. Strategic philanthropy
Answer the following statements true (T) or false (F)
1. The Taft-Hartley Act makes it illegal for workers (or their unions) to engage in boycotts. 2. As a result of a labor dispute with WaveMakers (a boat manufacturing company), the union organizes a national boycott of WaveMaker boats. When the boycott proves to be unsuccessful in pressuring WaveMakers to concede to the union demands, the union extends its boycott to several other boat manufacturers, hoping they will influence WaveMakers to settle. This action is legal under the Taft-Hartley Act. 3. It is legal for a union and management to negotiate a contract that requires the employer to hire only union workers. 4. The right-to-work provision in Taft-Hartley allows states to pass laws that prohibit unions and management from negotiating union or agency shop agreements. 5. After a successful union organizing attempt at a manufacturing plant in Tennesse, the owners refuse to bargain an initial contract with the union, arguing the state's right-to-work law allows them to "refuse" union representation. The employer's interpretation of the law is correct.
Which of the following companies is involved in foreign licensing?
A. An American electronics company that establishes a subsidiary in Asia to cut down its cost of production B. A European company that grants a company in Asia the rights to produce and sell its products C. An African company that starts a new business venture by working together with an Asian company D. A North American company that buys a small African company and uses it to manufacture its products