An independent retailer is a firm that operates more than one outlet and generally provides personal service.
Answer the following statement true (T) or false (F)
False
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The most common approach to implementing the lower of cost or market rule for inventory valuation is to apply it to
A) each individual item of inventory separately. B) each major category of inventory. C) the total inventory in the aggregate. D) inventory items that have increased in value but not to items that have decreased in value.
Answer the following statements true (T) or false (F)
1. The margin of safety can be used to evaluate a company's plans for the future. 2. If variable costs increase, and all other factors remain the same, the margin of safety will become smaller. 3. If variable costs decrease, and all other factors remain the same, the margin of safety will become larger. 4. If fixed costs increase, and all other factors remain the same, the margin of safety will become larger. 5. The degree of operating leverage is the ratio that measures the effects that variable costs have on operating income when sales volume changes.
Burnley and Co., a graphic design firm, has offices in New York, Texas, California, New Mexico, and New Jersey. Each of these offices is headed by a president who reports directly to Emma Burnley, the CEO. The heads of the centralized HR, Finance, and Marketing teams report to Emma Burnley as well. Managers in the various offices also report to the CEO directly. Based on this information, which of the following statements is most likely to be true?
A. Burnley and Co. has a tall hierarchical structure. B. Emma Burnley is underworked. C. Emma Burnley has a wide span of control. D. Burnley and Co. is a mechanistic organization.
Goods that are not yet in existence or are not yet owned by the seller are__________ goods
A) fungible B) nonexistent C) future D) contingent