Profitability increases as a business gains share relative to competitors in its ________
A) higher market
B) direct market
C) secondary market
D) served market
E) valued market
D
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Give an example of a cultural value and a social norm
What will be an ideal response?
MacKenzie Company sold $300 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% service charge for sales on its credit cards and credits MacKenzie's account immediately when sales are made. The journal entry to record this sale transaction would be:
A. Debit Cash of $300 and credit Accounts Receivable $300. B. Debit Cash $295.50; debit Credit Card Expense $4.50 and credit Sales $300. C. Debit Cash $295.50 and credit Sales $295.50. D. Debit Cash of $300 and credit Sales $300. E. Debit Accounts Receivable $300 and credit Sales $300.
In the process of preparing department income statements, a company uses there are three steps before the statements can be completed. Describe those steps.
What will be an ideal response?
Star Resorts Corporation wants to terminate its franchise arrangement with Tony. Their contract does not provide for notice of termination or set a time for winding up the business. This means that to wind up, Tony
A. has a reasonable time, with notice. B. has whatever time A determines, with or without notice. C. is entitled to notice, but nothing more. D. must close immediately.