Vicarious liability is liability with fault
Indicate whether the statement is true or false
FALSE
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"Hypercompetition" is a term that describes a business environment of escalating rivalry characterized by rapid product innovation and short product life cycles
Indicate whether the statement is true or false
Closing entries may be prepared by referring solely to the Income Statement columns of the work sheet
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. For a merchandising company, the budgeted total sales equals the expected number of units sold multiplied by the budgeted selling price per unit 2. The inventory, purchases, and cost of goods sold budget determines cost of goods sold for the budgeted income statement, and ending Merchandise Inventory for the budgeted balance sheet. 3. For a merchandising company, budgeted purchases equals cost of goods sold plus beginning merchandise inventory minus ending merchandise inventory. 4. Keeping merchandise inventory at the maximum level that meets the needs of providing goods to customers, with turning over the merchandise inventory efficiently, helps reduce inventory storage costs, insurance costs, and warehousing costs.
Keenan sells items to tourist gift shops in Florida. One prospect he called on said, "I think the key chains last year were prettier. I think I'll pass on ordering anything from you this year." Since key chains only make up a small portion of the inventory Keenan sells, he responded with questions such as, "What would it take to change your mind?" and "What caused you to decide not to place an order with me?" What kind of an objection was Keenan dealing with?
What will be an ideal response?