Heinz revolutionized the industry when it introduced its inverted bottle because consumers had complained for years about how hard it was to get out that last bit of ketchup. The company spent three years designing the convenient container, which is equipped with a vacuum cap that stops dry ketchup from forming around the lid. Which of the following packaging objectives does this exemplify?
A. protection
B. harmony
C. aesthetic
D. communication
E. promote usage
Answer: E
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Operating expense percentage is determined by the following process:
a. Divide departmental net sales by departmental direct expenses. b. Divide departmental cost of goods sold by departmental net sales. c. Divide departmental direct expenses by departmental indirect expenses. d. Divide departmental operating expenses by departmental net sales. e. Divide departmental contribution margin by departmental expenses.
A company had net sales of $31,400 and ending accounts receivable of $2800 for the current period. Its days' sales uncollected equals: (Use 365 days a year.)
A. 24.55 days. B. 11.21 days. C. 47.85 days. D. 32.55 days. E. 43.75 days.
Houston Co. borrowed $20,000 from Dallas Co. on March 1, Year 1. Houston issued a note payable that had a one-year term and the annual interest rate is 8%. How will the necessary adjustment, dated December 31, Year 1, affect the elements of the Year 1 financial statements?
A. Increase liabilities and increase expenses B. Increase assets and increase liabilities C. Increase assets and increase revenues D. No effect
According to the Keown book, ________of U.S. households have no life insurance coverage
A) 15 percent B) 30 percent C) 50 percent D) 65 percent