What are the major functions of a label?
What will be an ideal response?
Labeling is very closely interrelated with packaging and is used for identification, promotional, informational, and legal purposes. Labels can be small or large relative to the size of the product and carry varying amounts of information. A label can be a part of the package itself or a separate feature attached to the package. The label on a can of Coke is actually part of the can, whereas the label on a two-liter bottle of Coke is separate and can be removed. Information presented on a label may include the brand name and mark, the registered trademark symbol, package size and content, product features, nutritional information, potential presence of allergens, type and style of the product, number of servings, care instructions, directions for use and safety precautions, the name and address of the manufacturer, expiration dates, seals of approval, and other facts.Labeling can be an important part of the marketing strategy. A label can be attached to the packaging to communicate that the product is eco-friendly. Labeling can include claims about sustainability as well as other information that is potentially valuable to the buyer. Labels can facilitate the identification of a product by displaying the brand name in combination with a unique graphic design. By drawing attention to products and their benefits, labels can strengthen an organization's promotional efforts. Labels may contain promotional messages such as the offer of a discount or a larger package size at the same price or information about a new or improved product feature. Several federal laws and regulations specify information that must be included on the labels of certain products. Food product labels must state the number of servings per container, serving size, number of calories per serving, number of calories derived from fat, number of carbohydrates, and amounts of specific nutrients such as vitamins.
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All of the following statements are true regarding the use of a work sheet at the end of an accounting period except:
a. all companies use a ten-column work sheet. b. the net income of the period is extended from the income statement debit column to the balance sheet credit column. c. the beginning balance in the Retained Earnings account is entered initially on the work sheet on the unadjusted trial balance. d. cash is always carried over from the unadjusted trial balance columns of the work sheet to the balance sheet columns without any adjustment.
International investors believe that when a country gets into financial trouble, the IMF will rescue the country, thus reducing the investors' risk. As a result, investors take greater risks than they would otherwise. This is an example of
A. a risk premium. B. a lender of last resort. C. adverse selection. D. moral hazard.
Which of the following is included in the introduction?
A) title B) executive summary C) general purpose as well as the specific objectives D) memo of certification E) all of the above are included in the introduction
Answer the following statements true (T) or false (F)
1) Factoring is an option available to a business to reduce the risk of uncollectible accounts receivable. 2) When a business pledges its accounts receivable, it transfers the right to collect cash from customers to the bank. 3) The expense associated with the cost of uncollectible accounts receivable is called bad debts expense. 4) Accounts receivable that are uncollectible must remain on the books because the customer may eventually pay. 5) Bad debt expense is a cost to the seller of extending credit.