Which of the following is most likely a want rather than a need?
A. clothing
B. transportation
C. steak
D. shelter
E. water
Answer: C
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Which of the following best exemplifies a prospect offering his or her own benefit statement?
A. "Our computer specialist must confirm that this new inventory system will work with our accounts receivable program." B. "We cannot order from your company unless you guarantee that we will receive a cash discount for orders larger than 20 units." C. "Oh good, that cherry color matches the decor in our waiting room." D. "Studies show that machines manufactured by your company break down no more than your major competitors'." E. "The quality of the dump trucks produced by your company is too low for such a high price."
A fixed asset with a cost of $41,000 and accumulated depreciation of $36,000 is traded for a similar asset priced at $50,000. Assuming a trade-in allowance of $4,000, the cost basis of the new asset is
A) $54,000 B) $45,000 C) $51,000 D) $50,000
Authorized shares represent the:
A) number of previously issued shares that have been repurchased by the corporation. B) number of shares that the corporation has sold. C) number of shares that are currently held by stockholders. D) maximum number of shares of stock that a company can legally issue.
Products that are in the process of being manufactured but are not yet complete are called:
A. Finished goods inventory. B. Cost of goods sold. C. Raw materials inventory. D. Conversion costs. E. Work in process inventory.