List and briefly describe the three kinds of compensation packages
What will be an ideal response?
a. Straight salary – this kind of compensation scheme is useful when management is more interested in long-term goals than simply selling as much volume as possible.
b. Straight commission – such a scheme rewards the best performers and is also easy to manage because the payments are tied directly to visible performance.
c. Combination – these plans provide some incentive to perform non-revenue activities and a base, secure level of income while still rewarding the best performers above the rest.
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Park, Inc purchased merchandise from Jay Zee Music Company on June 5, 2016 . The goods were shipped the same day. The merchandise's selling price was $15,000 . The credit terms were 1/10, n/30 . The shipping terms were FOB shipping point. Park received the merchandise on June 10, 2016 . Park paid the amount due on June 13, 2016. Park uses a perpetual inventory system. When will the cost of
merchandise sold be recorded as an expense? a. The end of the accounting period b. The date the merchandise was purchased c. The date the merchandise is sold d. Cannot be determined without further information
For which of the following operations would telemarketing efforts likely be the most successful and the most profitable?
A) selling magazine subscriptions to consumers B) selling double-pane windows to home owners C) selling plastic bottles to a bottling company D) asking people for charitable donations E) selling vacation packages to people who earn $50,000 or more annually
In capacity requirements planning, we project or estimate ______.
A. the level of demand for each product that we are planning to produce B. resource requirements for labor, equipment, and other production needs C. the quantity of finished product to be stored in different distribution centers D. the activities at each workstation to balance workload
Larry has owned $5,000 of stock in E-prise, Inc for the past 18 months. Under SEC rules, Larry can require that one proposal be placed in the company's proxy statement to be voted on at the shareholder meeting
a. True b. False Indicate whether the statement is true or false