Slotkin Company buys designer clothing to sell in its retail stores. Since much of the merchandise comes from Dallas and Europe, Slotkin Company must pay freight charges to get the merchandise shipped in. Which statement is true?
a. Transportation-in, paid by Slotkin Company, is added to the inventory account under the periodic system.
b. Transportation-in, paid by Slotkin Company, is subtracted from purchases under the periodic system.
c. Freight charges are only paid by a buyer in a periodic system.
d. Transportation-in is added to net purchases to determine cost of goods purchased in a periodic system.
d
You might also like to view...
David has decided to open an auto-detailing business. He will pick up an automobile from the client, take it to his parents' garage, detail it, and return it to the client
If he does all of the work himself and takes no legal steps to form a special organization, which type of business organization, in effect, has he chosen? A) A limited-liability company B) A partnership C) A corporation D) A sole proprietorship
The book value of a share of stock is equal to the market or selling price of the stock.
Answer the following statement true (T) or false (F)
Answer the following statements true (T) or false (F)
1. The acceptance of a particular project usually has no impact on a firm's overall risk. 2. All projects should always use the WACC as the required return for capital budgeting purposes. 3. Behavioral approaches for dealing with risk include scenario analysis and simulation. 4. Behavioral approaches for dealing with risk include annualized net present values and risk-adjusted discount rates.
Which sequence does not belong to the hierarchy of response model developed by Kotler et al. (2001)
A. Awareness B. Selection C. Interest D. Adoption E. Trial