Strategic retailing goals typically focus on increasing costs of goods sold
Indicate whether the statement is true or false
a. True
b. False
ANSWER: False
Strategic retailing goals typically focus on increasing total sales, reducing costs of goods sold, and improving financial ratios such as return on assets or equity. S
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Answer the following statements true (T) or false (F)
1. Operating leverage predicts the effects fixed costs have on operating income when sales volume changes. 2. The degree of operating leverage for Madrigal Company is 2. The actual operating income is $14,000. If the company expects a 25% increase in sales, operating income should increase by $3,500. 3. The sales mix provides the weights that make up total product sales. 4. Sales mix, or product mix, is the combination of products that make up total sales. 5. Barnes Company sells two products, X and Y. For the coming year, Barnes predicts sales of 5,000 units of X and 10,000 units of Y. The contribution margins per unit of products X and Y are $5 and $4, respectively. The weighted-average contribution margin is $6.50 per unit.
Answer the following statements true (T) or false (F)
Conservatism has been called the dominant principle of accounting.
The warranty on a bottle of store brand pain relievers says that consumers may return this product if they are dissatisfied with it for any reason. This is an example of a(n) ________ warranty.
A. specific B. basic C. extended D. additional E. general
Mary is planning to form a corporation to manufacture and distribute electric solar panels. She
will sell the panels only in the Rocky Mountain states. These panels will be manufactured at two factories, one in Illinois and one in Florida. The headquarters of this company will be in Louisiana. In which state(s) could Mary incorporate this business? A) Louisiana or any state in which the products are sold B) Florida, Illinois, or Louisiana C) Any of the fifty states D) Florida, Illinois, Louisiana, or any state in which the products are sold E) Louisiana only