Cash discounts are mostly used to get new customers in the door since existing customers almost always use the delayed payment terms
a. True
b. FalseIndicate whether the statement is true or false
False
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Which of the following is the assignment of an internal function to an outside vendor?
a. outsourcing b. application service provider c. Insourcing d. Benchmarking
When using backflush costing, product costs are first accumulated in the __________ account
a. Cost of Goods Sold b. Work in Process Inventory c. Conversion Costs d. Finished Goods Inventory
Which of the following is NOT an effective attention-getting technique?
a. Startle or shock the audience b. Use an interesting quote from a relevant source c. Use off-color humor to upset the audience d. Use a story to arouse emotion
Clarence is the trustee of a trust. With $75,000 of his own money, Clarence purchases a parcel of real estate. Two months later, he sells the parcel to the trust for $150,000 and pockets the profit. Discuss the situation in terms of the duties and powers of the trustee