Governments are just about the only customers for certain products, such as jet fighters. The government is a(n) ________
A) end user
B) organization
C) gatekeeper
D) facilitator
E) reseller
B
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Concerning the exchange rate index of the U.S. dollar, suppose that the dollar's real exchange rate index falls from 125 to 110. This means that
a. U.S. goods are less competitive on foreign markets. b. U.S. goods are more competitive on foreign markets. c. the dollar has appreciated against the currencies of its major trading partners. d. U.S. price levels are identical to its trading partners.
If a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag, a bailment has been formed.
Answer the following statement true (T) or false (F)
The three inventory accounts used in traditional costing are replaced by two inventory accounts in backflush costing
Indicate whether the statement is true or false
Lee Carter Inc forecast of sales is as follows: July, $50,000; August, $80,000; September, $150,000. Sales are normally 75 percent cash and 25 percent credit. Credit sales are collected in full in the following month. Merchandise cost averages 70 percent of sales price. The company desires an inventory as of September 30 of $50,000. The inventory as of June 30 was $30,000. The accounts receivable
had zero balance on June 30. Total cash receipts for August of Lee Carter will be A) $12,500. B) $60,000. C) $47,500. D) $72,500.