Answer the following statements true (T) or false (F)
1) Smaller businesses invest in a periodic inventory system because of the ability to determine quantities of inventory on hand after each purchase and sale of merchandise inventory.
2) In a periodic inventory system, businesses must obtain a physical count of inventory to determine quantities on hand.
3) If a merchandiser uses the periodic inventory system, it is necessary to conduct a physical count of inventory to determine the quantity of inventory on hand.
4) In a periodic inventory system, purchases, purchase discounts, and purchase returns and allowances are recorded in the Merchandise Inventory account as and when they occur.
5) The Merchandise Inventory account is only used in a perpetual inventory system.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
5. FALSE
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Answer the following statements true (T) or false (F)
1. The statement of partners' equity shows the changes in each partner's capital account for a specific period of time. 2. In a partnership balance sheet, each partner's assets, liabilities, and equity will be shown separately. 3. The financial statements of a partnership are similar to the statements of a sole proprietorship. 4. An asset received from a partner as a contribution is recorded at its historical cost.
Information collected through CRM is stored in a ________
A) customer database B) data mine C) marketing mix D) loyalty program E) balance sheet
Liquidity analysis is required to:
A) evaluate a company's profitability. B) assess a company's ability to pay its current liabilities. C) be reported in the financial statements for all publicly traded companies. D) provide information about a company's capital structure.
Which of the following moral theories would closely follow the categorical imperative "Do unto others as you would have them do unto you"?
A) Kantian ethics B) moral relativism C) utilitarianism D) Rawls's social justice theory