The laws governing franchising are primarily designed to protect franchisors from dishonest franchisees
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False
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Business Office Supplies, Inc. uses the periodic inventory system. On February 1, the corporation purchased inventory on account for $20,000. The terms of invoice were 4/10, n/30. The amount due was paid on February 9. Which of the following journal entries correctly records the payment in the books of Business Office Supplies?
Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price$126 Units in beginning inventory 0Units produced 1,900Units sold 1,800Units in ending inventory 100 Variable costs per unit: Direct materials$49Direct labor$28Variable manufacturing overhead$5Variable selling and administrative expense$11Fixed costs: Fixed manufacturing overhead$32,300Fixed selling and administrative expense$23,400What is the total period cost for the month under variable costing?
A. $43,200 B. $55,700 C. $75,500 D. $32,300
Professionals are required to deliver services but the competency of the services is never an issue
Indicate whether the statement is true or false
Peerless Inc., a large conglomerate, wants to liquidate its business in certain industries to improve its overall profitability. Which of the following industries would Peerless Inc. find it most difficult to exit?
A. the corporate training industry in which the company's commitments are mostly short-term B. the steel industry in which the company has obligations like severance pay toward employees C. the e-commerce industry where the company has no long-term contractual agreements with suppliers D. the management consultancy industry in which the company's fixed costs are low