Which of the following products in a supermarket is most likely to be an impulse product?
A. child's toy
B. shampoo
C. oranges
D. bread
E. frozen peas
Answer: A
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_____, which is any form of advertising through an online search site, is regarded by businesses as highly effective.
A. Search advertising B. Location-based advertising C. Near-field advertising D. Reach advertising
A contingent liability is recognized when the amount can be reasonably estimated and the likelihood of loss is probable
Indicate whether the statement is true or false
Merchandise with an invoice price of $5,000 is purchased on September 2 subject to terms of 2/10, n/30, FOB destination. Freight costs paid by the seller totaled $200. What is the cost of the merchandise if paid on September 12, assuming the discount is taken?
A) $5,200 B) $5,096 C) $4,704 D) $4,900
The entries that transfer the revenue, expense, and dividends balances to the Retained Earnings account to prepare the company's books for the next period are called ________
A) closing entries B) opening entries C) adjusting entries D) temporary accounts