All products have some identification and are therefore potential brands.


a. True
b. False


a. True

Business

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Trios Corporation has three departments: Fine Art, Fine Jewelry, and Fine Furnishings. If the Fine Art Department has a gross profit of $3,804,096 and a gross profit percentage of 48%, what is the dollar amount of sales in the department?

a. $9,430,000; b. $7,925,200; c. $7,315,570; d. $1,825,966; e. cannot be determined from the information given

Business

______ is the process of listing activities that must be performed to accomplish an objective.

a. Planning b. Scheduling c. Prioritizing d. Managing

Business

Match Incorporated recorded salary expense of $120,000 in 2012. However, additional salaries of $9,000 had been earned, but not paid or recorded at December 31, 2012. After the adjustments are recorded and posted at December 31, 2012, the balances in the Salaries Expense and Salaries Payable accounts will be Salaries Expense Salaries Payable

A) $129,000 $9,000 B) $120,000 $ 0 C) $120,000 $9,000 D) $109,000 $ 0

Business

Since receivables and payables both result from sales transactions, a firm with a high receivables-to-sales ratio must also have a high payables-to-sales ratio.

Answer the following statement true (T) or false (F)

Business