gross profit as a percentage of net sales is ________. (Round your answer to two decimal places.)
Mercer, Inc. provides the following data for 2019:
A) 37.96%
B) 39.80%
C) 60.20%
D) 40.8%
B) 39.80%
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Shannon signs a contract with Tevin, an unlicensed contractor, to build a deck and gazebo at the rear of her house. This contract is enforceable by A) Shannon
B) any third party who is not aware that Tevin is not licensed. C) Tevin. D) no one.
Edward Seaton owns a firm that manufactures custom-made carpets. He has a regular sales force to call on smaller customers and an elite force to call on larger accounts. The elite sales force is called
A. supporting salespeople. B. a major accounts sales force. C. customer service reps. D. missionary salespeople. E. technical specialists.
If sales increase 25%, EBIT increases 50%, debt increases 75%, and working capital increases 12.5%, what is the degree of operating leverage?
A) 2 B) 5 C) 3 D) 6 E) 4
Judicial Review. American Message Centers (AMC) provides answering services to re-tailers. Calls to a retailer are automatically forwarded to AMC, which pays for the calls. AMC ob-tains telephone service at a discount from major carriers, including
Sprint. Sprint's tariff (a public document setting out rates and rules relating to Sprint's services) states that the "subscriber shall be responsible for the payment of all charges for service." When AMC learned that computer hackers had obtained the access code for its lines and had made nearly $160,000 worth of long-distance calls, it asked Sprint to absorb the cost. Sprint refused. AMC filed a complaint with the Federal Communications Commission (FCC), claiming in part that Sprint's tariff was vague and ambiguous, in violation of the Communications Act of 1934 and FCC rules. These laws require that a carrier's tariff "clearly and definitely" specify any "exceptions or conditions which in any way affect the rates named in the tariff." The FCC rejected AMC's complaint. AMC appealed the FCC's decision to a federal appellate court, claiming that the FCC's decision to reject AMC's complaint was arbitrary and capricious. What should the court decide? Discuss fully.