[The following information applies to the questions displayed below.] Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $42,000 of common stock for cash. 2) The company paid cash to purchase $26,400 of inventory. 3) The company sold inventory that cost $16,000 for $30,600 cash. 4) Operating expenses incurred and paid during the year, $14,000. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $35,200 of inventory. 2) The company sold inventory that cost $32,800 for $57,000 cash. 3) Operating expenses incurred and paid during the year, $18,000. Note: Sanchez uses the perpetual inventory system.What is Sanchez's gross margin for Year 2?
A. $6,200
B. $24,200
C. $32,800
D. $21,800
Answer: B
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Answer the following statements true (T) or false (F)
1. A transitory career path involves a series of alternating promotions and demotions. 2. Planning helps managers to cope with events that can be predicted but is not particularly helpful when conditions are uncertain. 3. Planning occurs only at the highest levels of an organization, being done by top managers. 4. Planning and strategic management derive from an organization's mission and vision about itself.
Which statement is not correct? The audit trail in a computerized environment
a. consists of records that are stored sequentially in an audit file b. traces transactions from their source to their final disposition c. is a function of the quality and integrity of the application programs d. may take the form of pointers, indexes, and embedded keys
Discriminant analysis is available in EXCEL
Indicate whether the statement is true or false
The equivalent of a storefront for a Web retailer is _____
a. a search engine b. the Web browser c. its home page d. the checkout