Carlos Kraushar was an enterprising junior at River City College. He entered into a contract with several farmers, whereby he would take delivery of truckloads of tomatoes, without purchasing them, and attempt to sell the tomatoes in bulk to roadside produce merchants for the benefit of the farmers. If he made a sale, it was on credit and payments were made to the individual farmers. If any roadside vendor failed to make a payment, Carlos made good on the loss and paid the farmer. He would return unsold tomatoes to the farmers and they would in turn sell them for hog feed. The farmers paid Carlos 25% of all the payments they received from the produce merchants. What terms best describe Carlos?
a. principle/employee
b. employee/agent
c. servant/agent
d. agent/independent contractor
d
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Kim teaches English classes and thinks she is very clear with assignment instructions. However, every student in her class is confused about the instructions throughout the semester. Kim’s behavior is known as
a. misinformation. b. communication inefficiency. c. communication bravado. d. miscommunication.
When a company uses intermodal or multimodal transportation, it is:
A) using multiple channels. B) using land and water shipping. C) shipping via more than one railroad line. D) using the services of both UPS and FedEx. E) using different size containers for shipment.
Answer the following statements true (T) or false (F)
1. Direct labor costs are accumulated in the Manufacturing Overhead account. Process costing is used. 2. The journal entry to record indirect labor costs incurred, but not paid, includes a debit to Manufacturing Overhead and a credit to Wages Payable. Process costing is used. 3. Under a process costing system, direct labor costs are assigned to the Work-in-Process Inventory account of the department for which they are incurred. 4. Under process costing, depreciation on plant machinery is debited to the respective department's Work-in-Process Inventory. 5. When finished products are sold, Sales Revenue is debited, and Cost of Goods Sold is credited. Process costing and the perpetual inventory system are used.
Which of the following is true with regard to geographic organization?
A) It is the most common form of marketing organization. B) Different marketing activities are headed by a functional specialist. C) It requires salespeople to have international experience. D) It reduces the overall efficiency of salespeople. E) It allows salespeople to work with a minimum of travel time and cost.