If the company's inventory items have declined in value from damage or obsolescence, what effect will the lower-of-cost-or-market rule have on the amount of inventory shown on the balance sheet?Why?
What will be an ideal response?
If the company's inventory items have declined in value from damage or obsolescence, the market value of the inventory, in aggregate, will be lower than its cost and the company will write down the inventory to the lower market value. The write-down will decrease assets (inventory) and stockholders' equity (retained earnings).
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Thinking of guests as quasi-employees means that the hospitality organization must ______.
a. be clear about their requirements b. carefully define the KSAs required of them c. establish a compensation program d. allow them to pay what they feel is fair
The ________ technique for dealing with objections involves convincing a prospect that an objection is actually a benefit.
A. boomerang B. forestalling C. direct denial D. compensation E. pass up
According to the external control view of leadership, which of the following factors would not be considered an external factor that might positively or negatively affect a firm's success?
A. economic downturns B. company employee morale C. governmental legislation D. outbreak of war
Express warranties can be found in a seller's brochure
Indicate whether the statement is true or false