Which of the following situations results in an infeasible transportation model?
a. When the total supply for the product generated by all sources equals the total demand consumed by all destinations
b. When the total supply for the product generated by all sources is greater than the total demand consumed by all destinations
c. When the total supply for the product generated by all sources is less than the total demand consumed by all destinations
d. None of the above
C
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A contract involving the sale of goods from a Texas seller to a French wholesaler must always use the United Nations Convention on Contracts for the International Sale of Goods (CISG)
a. True b. False Indicate whether the statement is true or false
A partner's profit from a partnership is taxed as income to the firm
a. True b. False Indicate whether the statement is true or false
Which of the following statements regarding insurance and hedging is true?
A) Both insurance and hedging deal only with pure risks. B) Insurance reduces objective risk while hedging involves only risk transfer and not risk reduction. C) Hedging reduces objective risk while insurance involves only risk reduction and not risk transfer. D) Both insurance and hedging reduce objective risk but do not involve the transfer of risk.
On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Johnson uses the periodic inventory system and the net method of accounting for purchases. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Johnson makes on September 18 is:
A.
| Accounts payable | 5,800 | |
| Purchases discounts | 116 | |
| Cash | 5,684 |
B.
| Accounts payable | 4,000 | |
| Merchandise inventory | 80 | |
| Cash | 3,920 |
C.
| Purchases | 5,684 | |
| Cash | 5,684 |
D.
| Accounts payable | 5,684 | |
| Cash | 5,684 |
E.
| Cash | 5,684 | |
| Purchases discounts | 116 | |
| Accounts payable | 5,800 |