Your client left the cash receipts journal open after year-end for an extra day and included January 1 cash receipts in the 12/31/XX totals. All of those cash receipts were due to cash sales. Assuming the client uses a periodic inventory system with a 12/31/XX count of the physical inventory, which of the following is most likely to be true relating to the year XX financial statements?
A. Sales are understated.
B. Inventory is overstated.
C. Accounts receivable are understated.
D. Net income is overstated.
Answer: D
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Compare and contrast the different ways in which new brand names are created and provide an example of each
What will be an ideal response?
Answer the following statements true (T) or false (F)
1. Job design involves the division of an organization's work among its employees and the application of motivational theories to jobs to increase satisfaction and performance. 2. Job simplification increases job satisfaction by allowing workers to become expert at a fewer number of tasks. 3. Job design that fits jobs to people is based on the assumption that people are underutilized at work and that they want more variety and responsibility. 4. Job enrichment consists of increasing the number of tasks in a job to increase variety and motivation.
A hamburger stand near the local mall sells hamburgers for $3.99, drinks for $1.99, and fries for $1.49, while a gourmet restaurant nearby sells entrees for $20, $30, and $45. Both of these restaurants are using ________
A) demand-based pricing B) cost-based pricing C) psychological pricing D) prestige pricing E) penetration pricing
The theft and unauthorized repurposing of intellectual material via the Internet is called ________
A) information logistics theft B) non-permission-based downloading C) online distribution piracy D) disintermediation E) taking title