A firm has an average age of inventory of 60 days, an average collection period of 45 days, and an average payment period of 30 days. The firm's operating cycle is ________ days
A) 75
B) 105
C) 90
D) 135
B
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The ____________________ is a variation of the gross profit method that is used by department and clothing stores, to estimate the cost of goods sold and ending inventory
Fill in the blank(s) with correct word
A marketer would be unlikely to include a public relations plan in the marketing strategy section of a marketing plan
Indicate whether the statement is true or false
A limited partnership is made up of which of the following?
a. general partners and limited partners b. general partners and shareholders c. general partners only d. limited partners only
Sales revenue for a sporting goods store amounted to $526,000 for the current period. All sales are on account and are subject to a sales tax of 10%. Which of the following would be included in the journal entry to record the sales transaction?
A) a debit to Sales Revenue for $526,000 B) a credit to Accounts Receivable for $526,000 C) a debit to Sales Tax Payable for $52,600 D) a debit to Accounts Receivable for $578,600