Sales Discounts is a revenue account with a credit balance
Indicate whether the statement is true or false
False
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Following are selected data from the financial statements of Mother Nature Supplies: 2017 2016 Accounts receivable $ 60,000 $ 38,000 Merchandise inventory 12,000 16,000 Total assets 450,000 380,000 Net sales 380,000 270,000 Cost of goods sold 160,000 210,000 Refer to the data for Mother Nature Supplies. Which of the following results would be found through a vertical analysis of the balance sheet
or the income statement of Mother Nature Supplies? a. Accounts receivable increased $22,000 during 2017. b. Total assets increased $70,000 during 2017. c. Cost of goods sold increased $50,000 or 23.8% during 2017. d. Gross profit is 57.9% of net sales for 2017.
The owner of A. C. Flora Ford Dealership wanted to know why consumers chose his company to purchase a car. He was fairly sure that most customers had one of three reasons-service, reputation, or location-but wanted to know which was revealed as the most frequent reason for purchasing. A. C. Flora will probably use a survey with ________ questions to address his research problem.
A. closed-ended B. experimental C. open-ended D. observation-based E. unstructured
If a company has violated antitrust laws:
a. the Justice Department can initiate only noncriminal charges against the violator. b. the Federal Trade Commission may file criminal proceedings against the violator. c. any private person or company that has been harmed by the violator can file a lawsuit to recover damages. d. All the above.
With respect to the board of directors of a corporation, which of the following is NOT correct?
A) They manage the business and affairs of the corporation. B) They are the shareholders' elected representatives. C) They must always obtain shareholder approval before deciding questions of operating policy. D) They have the authority to delegate power to officers and agents.