Imagine that you are a furniture salesperson. Describe a mattress to a prospect using an analogy.
What will be an ideal response?
Students' answers will depend on their level of creativity. The analogy example must compare two different situations that have something in common. Examples: Sleeping on this mattress is like sleeping on a cloud. This mattress with dual air compartments will keep you and your mate from having a wrestling match each night. This mattress will make your back feel like it has had a deep massage.
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Audit reports are designed to promote clear communication between the auditor and the financial statement user. Which of the following is not delineated in the audit report?
a. What was audited and the relative responsibilities of the client and the auditor. b. The experience level of the audit team. c. The nature of the audit opinion formulation process. d. The auditor's opinion on the fairness of the financial statements.
When citing journal articles using the APA style,
A) use quotation marks around the title. B) capitalize only the first word of the title. C) you do not need to include the volume number. D) include only the first page of the article.
On January 1, 20X6, Pumpkin Corporation acquired 70 percent of Spice Company's common stock for $210,000 cash. The fair value of the noncontrolling interest at that date was determined to be $90,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: PumpkinSpiceCash $50,000 $15,000 Accounts Receivable 70,000 25,000 Inventory 30,000 20,000 Land 150,000 80,000 Buildings and Equipment 250,000 200,000 Less: Accumulated Depreciation (70,000) (20,000) Investment in Spice Co. 210,000 Total Assets $690,000 $320,000 Accounts Payable $40,000 $10,000 Bonds Payable 150,000 40,000 Common
Stock 300,000 90,000 Retained Earnings 200,000 180,000 Total Liabilities and Equity $690,000 $320,000 At the date of the business combination, the book values of Spice's assets and liabilities approximated fair value except for inventory, which had a fair value of $30,000, and land, which had a fair value of $95,000.Based on the preceding information, what amount will be reported as noncontrolling interest in the consolidated balance sheet prepared immediately after the business combination? A. $0 B. $90,000 C. $81,000 D. $96,000
Find the probability that exactly 9 students will log-in during the next 5-minute interval