Emma owns a bakery in Michigan. To save time, she buys ready-made edible cake decorations from a vendor in Wisconsin. This scenario exemplifies the purchase of a _____.
A. credence good
B. composite good
C. business product
D. consumer product
Answer: C
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Answer the following statements true (T) or false (F)
1. Depreciation is the allocation of a plant asset's cost to expense over its useful life. 2. An asset is considered to be obsolete when a newer asset can perform the job more efficiently 3. Depreciation means that the business sets aside cash to replace an asset when it is used up. 4. Residual value is also known as depreciable cost.
Performance indicators for nonbusiness organizations are usually formal budgets and donor restrictions
Indicate whether the statement is true or false
An office supply store that pays a discounted price when it orders more than twelve metal filing cabinets is receiving a(n) ________
A) merchandising allowance B) promotional product C) case allowance D) co-op promotion E) incentive program
Article 2A of the Uniform Commercial Code (UCC) prescribes a set of uniform rules for the creation and enforcement of contracts ________
A) covering financial services B) for the sale of leases of goods C) covering employment D) for the sale of electronic data