________ play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities
A) Virtual banks
B) Intermediaries
C) Price consultants
D) Uniform-delivery networks
E) Upstream partners
B
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On September 12, Ryan Company sold merchandise in the amount of $9800 to Johnson Company, with credit terms of 3/10, n/30. The cost of the items sold is $6000. Ryan uses the periodic inventory system and the net method of accounting for sales. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is:
A.
| Cash | 9800? | |
| Accounts receivable | 9800? |
B.
| Cash | 9506? | |
| Accounts receivable | 9506? |
C.
| Cash | 5820? | |
| Sales discounts | 180? | |
| Accounts receivable | 6000? |
D.
| Cash | 9506? | |
| Sales discounts | 294? | |
| Accounts receivable | 9800? |
E.
| Cash | 6000? | |
| Accounts receivable | 6000? |
The calculations for some profitability ratios are the same as the calculations for common-size analysis of the income statement. Which of the following profitability ratios would also be determined through a common-size analysis of the income statement?
a. gross profit ratio b. debt-to-equity ratio c. acid-test ratio d. earnings per share
Which of the following questions would most likely be included in an internal control questionnaire concerning the completeness assertion for purchases?
A. Is the unpaid voucher file periodically reconciled with inventory records by an employee who does not have access to purchase requisitions? B. Is an authorized purchase order required before the receiving department can accept a shipment or the vouchers payable department can record a voucher? C. Are purchase orders, receiving reports, and vouchers prenumbered and periodically accounted for? D. Are purchase requisitions prenumbered and independently matched with vendor invoices?
Sample methods that embody random sampling are often termed ________
A) probability sampling methods B) nonprobability sampling methods C) congruent sampling methods D) incongruent sampling methods E) randomized sampling methods