Mike started a calendar-year business on September 1st of this year by paying 12 months of rent on his shop at $1,000 per month. What is the maximum amount of rent that Mike can deduct this year under each type of accounting method?
A. $12,000 under the cash method and $4,000 under the accrual method.
B. $4,000 under the cash method and $4,000 under the accrual method.
C. $4,000 under the cash method and $12,000 under the accrual method.
D. $12,000 under the cash method and $12,000 under the accrual method.
E. $4,000 under the cash method and zero under the accrual method.
Answer: A
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______ feedback is most effective because our reaction can lose its impact over time.
A. Immediate B. Delayed C. Nonevaluative D. High-monitoring
Answer the following statements true (T) or false (F)
1. Greg, a manager at the Rome, Italy, store of an American-owned clothing company, understands the differences and similarities between American and Italian customers, customs, culture, and practices. As a result, Greg uses his understanding of Italian culture, tastes, and business practices to help him market his products to Italian customers in Rome—and he uses his understanding of American culture to sell his products to American tourists who are visiting Rome. Greg is an example of a geocentric manager. 2. Two managers from an Electronics Mart were talking to Ty, their district manager, about Harriet, the unpopular store manager. Susan, the assistant manager, said, "I believe I speak for other managers and employees when I say that Harriet acts like she knows it all. We all feel that Harriet does not listen to any of us because she always thinks her way is right and does not want to consider any other opinion." Harriet is an example of a geocentric or parochial manager. 3. In 1999, the top exporting nation was the United States, but in 2015 the world's top exporting nation was China. 4. Over the last two years, an American computer manufacturer has partnered with a technology organization in Japan to develop and produce computers and printers. The partnership benefits both organizations and is an example of countertrading.
The difference between gross sales and net sales is equal to the sum of sales discounts and sales returns and allowances
Indicate whether the statement is true or false
Which of the following most likely is an example of an accrued liability?
A) Interest payable B) Accounts payable C) Current portion of long-term debt D) Sales tax payable