Clay Distribution Company has purchased 15 forklifts over the past two years. As it plans to place its next order for another five machines, management wonders if additional features may be needed in order to handle changes in the product lines it carries. For Clay, these new forklifts represent a ____ purchase.
A. new-task
B. repetitive
C. straight rebuy
D. repetitive order
E. modified rebuy
Answer: E
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Nic is a great basketball player with a long professional career in front of him. He plays for a European professional team that has made him a very interesting offer
If he will take a "below market" salary beginning one year from today, they will guarantee a 5% annual raise forever - even after he stops playing ball. If the offer is for a $5,000,000 salary to be received one year from today with subsequent payments as described, what is the present value of the contract offer if the cash flows should be discounted at a rate of 12%? A) $71,428,571 B) $75,000,000 C) $41,666,667 D) $43,750,000
A school cafeteria prepares soup in five-gallon stock pots. Because of waste, the cooks only get 3 3/4 gallons of soups from one pot. If one large serving measures about 1 1/3 cups, how many large servings can they get out of one pot? (One gallon = 4 quarts = 16 cups.)
Answer the following statements true (T) or false (F)
1. Accounts that increase on the credit side are Liabilities, Common Stock, Revenues and Retained Earnings (LCR). 2. Normal balance refers to the expected balance of an account, and identifies the side of the account (Debit or Credit) to which increases are recorded. 3. The normal balances for prepaid rent and rent expense would both be a debit. 4. The normal balances for salary expense and salary payable would both be a credit. 5. The general journal was developed to organize transactions by account.
Suppose you are told that the mean of a sample is below the median. What does this information suggest about the distribution?
A) The distribution is symmetric. B) The distribution is skewed to the right or positively skewed. C) The distribution is skewed to the left or negatively skewed. D) There is insufficient information to determine the shape of the distribution.