The accountant for Suzanne Company made the following errors related to inventory in 2017: 1. The beginning inventory for 2017 was overstated by $1,375 due to an error in the physical count. 2. A $1,650 purchase of merchandise on credit in 2017 was not recorded or included in the ending inventory. ? Assuming a periodic inventory system, how would Sue's cost of goods sold, gross profit, and net
income be affected in 2017 by these errors? Set Cost of Goods Sold Gross Profit Net Income I. Overstated Understated Understated II. Overstated Understated No effect III. Understated Overstated Overstated IV. No effect No effect No effect ?
A) Set I
B) Set II
C) Set III
D) Set IV
A
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The balance theory perspective involves relations among three elements (a triad). Which of the following is one of the elements of the triad?
A) A person and his or her perceptions B) The marketer and its strategy of image building C) A person's beliefs D) Subconscious motives
Which strategy would be used if a business is losing money in a given market and decides to pursue a quick market exit?
A) a monetize market strategy B) a disintermediation market strategy C) a harvest market strategy D) a divest market strategy E) an optimize market strategy
If you use too many modifiers or too strong modifiers in your writing, you
A) will have to support your ideas in more than one paragraph. B) must be sure that your sentences have parallel structure. C) could alienate your reader by appearing overconfident. D) may sound insincere because of exaggeration. E) can control paragraph length by using shorter sentences.
Kelemen, Inc provides the following information for 2017
Net income $260,000 Market price per share of common stock $50 per share Dividends paid $190,000 Common stock outstanding at Jan. 1, 2017 150,000 shares Common stock outstanding at Dec. 31, 2017 210,000 shares The company has no preferred stock outstanding. Calculate the price/earnings ratio of common stock. (Round any intermediate calculations and your final answer to two decimal places.) A) 40.32 times B) 50.00 times C) 34.72 times D) 28.90 times