The price-skimming strategy is sometimes called a "market-plus" approach to pricing because it denotes a high price relative to the prices of competing products. This strategy works best when:
A. competition is abundant
B. revenues are equal to expenses
C. supply is greater than demand
D. production capacity is large and flexible
E. demand is greater than supply
Answer: E
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Which of the following statements about accounting systems is incorrect?
a. An effective accounting system provides an audit trail that allows frauds to be discovered. b. An effective accounting system makes concealment difficult. c. An effective accounting system can effectively prevent "kickbacks." d. Without a good accounting system, it is often difficult to distinguish between actual fraud and unintentional error.
Price levels, package designs, and advertising themes are examples of independent variables manipulated by the researcher
Indicate whether the statement is true or false
Using the information below, calculate the cost of goods manufactured for the period: Beginning Raw Materials Inventory$33,000? Ending Raw Materials Inventory 24,600? Beginning Work in Process Inventory 63,000? Ending Work in Process Inventory 72,000? Beginning Finished Goods Inventory 92,000? Ending Finished Goods Inventory 75,000? Cost of Goods Sold for the period 548,000? Sales Revenues for the period 1,262,000? Operating Expenses for the period 240,000?
A. $573,200. B. $565,000. C. $557,000. D. $531,000. E. $540,000.
The Garrett Company uses the perpetual inventory system. The company's records showed a book balance of $18,000 in the Merchandise Inventory account, and a physical count finds only $16,250 of inventory. Which of the following indicates the effect of the necessary write-down entry? Asset=Liab.+Stk.EquityRev.-Exp.=Net Inc.Stmt ofCash FlowsA.(1,750) NA (1,750)NA 1,750 (1,750)NAB.NA 1,750 (1,750)NA 1,750 (1,750)NAC.16,250 NA 16,25016,250 NA 16,25016,250 IAD.(18,000) NA (18,000)(18,000) NA (18,000)NA
A. Option A B. Option B C. Option C D. Option D