Until the mid-1880s, almost all U.S. businesses were ________.
A. indifferent
B. large
C. small
D. medium
Answer: C
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In many emerging markets global brands are perceived as better than local brands.
a. True b. False
Most product liability lawsuits are based on the theory of negligence
Indicate whether the statement is true or false
What is the percentage holding cost per period for a credit with the terms of 2/30 net 60?
A) .0101 B) .2787 C) .0667 D) .0204 E) .0352
On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Klein uses the perpetual inventory system and the gross method of accounting for sales. Babson pays the invoice on March 17, and takes the appropriate discount. The journal entry that Klein makes on March 17 is:
A.
| Cash | 7,644 | |
| Sales discounts | 156 | |
| Accounts receivable | 7,800 |
B.
| Cash | 7,644 | |
| Accounts receivable | 7,644 |
C.
| Cash | 7,800 | |
| Accounts receivable | 7,800 |
D.
| Cash | 4,500 | |
| Accounts receivable | 4,500 |
E.
| Cash | 4,410 | |
| Sales discounts | 90 | |
| Accounts receivable | 4,500 |