Irregular verbs, like eat and cut, are _______________
a. rare
b. unpredictable
c. never used
d. inactive
b
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In its first year of business, Borden Corporation had sales of $2,200,000 and cost of goods sold of $1,300,000. Borden expects returns in the following year to equal 6% of sales. The adjusting entry or entries to record the expected sales returns is (are):
A.
| Sales Refund Payable | 132,000? | |
| Accounts receivable | 132,000? |
B.
| Sales Returns and Allowances | 132,000? | |
| Sales Refund Payable | 132,000? | |
| Inventory Returns Estimated | 78,000? | |
| Cost of goods sold | 78,000? |
C.
| Accounts Receivable | 2,200,000? | |
| Sales | 2,200,000? |
D.
| Sales | 2,200,000? | |
| Sales Refund Payable | 132,000? | |
| Accounts receivable | 2,068,000? |
E.
| Sales returns and allowances | 132,000? | |
| Sales | 132,000? | |
| Cost of Goods Sold | 78,000? | |
| Inventory Returns Estimated | 78,000? |
When considering ethics, how does an action differ from the consequences of that action?
a. Acts carry moral weight, while consequences are neutral to the person taking the action. b. Acts are morally neutral, while consequences have ethical weight. c. Acts carry concrete moral implications, while consequences are subject to interpretation. d. An act has moral implications for the actor, while consequences have moral implications only for those acted upon.
Which statement about the changing ethnicity in the United States is true?
A. In spite of an increase in the Hispanic population, Hispanic buying power is expected to maintain its current level. B. African American U.S. households are more affluent than previous studies suggested. C. Asian Americans are the slowest-growing minority population. D. Hispanics differ vastly from other groups in America in terms of consumer behavior. E. Minorities now represent almost half of the population in the United States.
Which of the following financial goals is most useful for developing a financial plan?
A. Make a $12,000 down payment on an automobile in 4 years. B. Retire with a comfortable lifestyle in 25 years. C. Buy a $125,000 house. D. Purchase a $40,000 boat. E. Join the county club on retirement in 20 years.