If X and Y are random variables with E(X) = 6 and E(Y) = 9, then E(2X + 3Y) is:
a. 39
b. 15
c. 27
d. 12
A
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The Bow Shop caters to archery enthusiasts. It sells bows starting at $300. The maintained markup used by the store is 60 percent. Reductions are estimated to be 12 percent. Calculate the store's planned initial markup percentage.
A. 48 percent B. 64.29 percent C. 60 percent D. 72 percent E. 55.55 percent
Policies
A. prescribe how certain activities will be carried out. B. assure that all budgets will be prepared using the same format. C. specify detailed standards for guiding behavior. D. are prepared in advance of, and to provide input for, strategic plans. E. are broad guidelines used to assist lower-level managers to handle recurring problems.
A new soap manufacturer wants to get its product to national retailers. It recently developed a product that executives think will be able to compete against top dogs such as Dove and Dial. However, they know that retailers are often skeptical of carrying new products when their success is not known. The soap manufacturer therefore offers a price reduction to the retailers for each case of soap they buy. The soap manufacturer is most likely using a
A. dealer loader. B. buying allowance. C. merchandise allowance. D. scan-back allowance. E. buy-back allowance.
For the year ended December 31, a company had revenues of $187,000 and expenses of $109,000. $37,000 in dividends were paid during the year. Which of the following entries could not be a closing entry?
A. Debit revenues $187,000; credit Income Summary $187,000. B. Debit Income Summary $109,000, credit expenses $109,000. C. Debit Income Summary $78,000; credit Retained earnings $78,000. D. Debit Retained earnings $37,000; credit Dividends $37,000. E. Debit Income Summary $187,000; credit revenues $187,000.