Ross's, an off-price retailer featuring clothing and housewares, communicates in news story form about its organization and its efforts to support local children's hospitals. This information is transmitted through mass media at no charge and is therefore called
A. news reporting.
B. public relations.
C. mass communications.
D. free advertising.
E. publicity.
Answer: E
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Temporary accounts accumulate information across accounting periods
Indicate whether the statement is true or false
Shaun is a student who has received an academic scholarship to State University. The scholarship paid $14,000 for tuition, $2,500 for fees, and $1,000 for books. In addition, Shaun's dormitory fees of $8,500 were paid by the university when he agreed to counsel freshman on campus living. What amount must Shaun include in his gross income?
A. $9,500 B. $2,500 C. $11,000 D. $8,500 E. $0-none of these benefits are included in gross income.
Kesterson Corporation has provided the following information: Cost per UnitCost per PeriodDirect materials$6.20 Direct labor$3.10 Variable manufacturing overhead$1.35 Fixed manufacturing overhead $14,000Sales commissions$1.50 Variable administrative expense$0.40 Fixed selling and administrative expense $4,500 If 6,000 units are produced, the total amount of direct manufacturing cost incurred is closest to:
A. $63,900 B. $64,800 C. $55,800 D. $80,700
Which of the following is not a characteristic of an oligopoly?
A. There are few sellers. B. The seller has considerable control over price. C. Any duplication of facilities is wasteful. D. Sizable investments are required to enter the market. E. The market actions of each seller can strongly affect other sellers.