Which of the following organizational buyers purchases raw materials and parts to reprocess into the finished goods they sell?
A. agents
B. retailers
C. manufacturers
D. wholesalers
E. ultimate consumers
Answer: C
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Use the following information to answer the question below. When Calvert Corporation was formed on January 1, 2010, the corporate charter provided for 50,000 shares of $20 par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation: 1 . The corporation issued 200 shares of stock to its lawyer in full payment of the $5,000
bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency. 2 . The company issued 8,000 shares of stock at a price of $25 per share. 3 . The company issued 7,000 shares of stock in exchange for equipment that had a fair market value of $160,000. The entry to record transaction 1 would be: a. Start-up and Organization Costs 4,000 Common Stock 4,000 b. Start-up and Organization Costs 5,000 Common Stock 4,000 Additional Paid-in Capital 1,000 c. Start-up and Organization Costs 4,000 Additional Paid-in Capital 4,000 d. Start-up and Organization Costs 5,000 Common Stock 5,000
Which of the following describes the production budget?
A) It aids in planning to ensure the company has adequate inventory and cash on hand. B) It provides the quantity of finished goods to be produced during a budget period. C) It depicts the breakdown of sales on the basis of terms and conditions of collection of sales revenue. D) It helps in planning to ensure the business has adequate cash.
The fundamental purpose of a variable annuity is to
A) provide funding flexibility to the purchaser. B) provide a hedge against inflation. C) fund the purchase of cash value life insurance. D) guarantee a fixed-dollar benefit throughout retirement.
The General Agreement on Tariffs and Trade was initially implemented to do which of the following?
A. Promote free trade among members by eliminating trade barriers and educating individuals, companies, and governments about trade rules across the world B. Provide loans to countries to build up their infrastructure and increase economic opportunities C. Merge the United States, Canada, and Mexico into a single market D. Reduce worldwide tariffs and increase international trade E. Prevent the dumping of products into developing countries