In general, approximately 30% to 50% of the final selling price of a product can be attributed to distribution costs
Indicate whether the statement is true or false
TRUE
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Answer the following statements true (T) or false (F)
1) Cost of Goods Sold appears on a multi-step income statement but not on a single-step income statement. 2) The net income calculated using either the single-step or multi-step income statement formats is always the same. 3) Operating income equals gross profit minus operating expenses. 4) Under IFRS, Cost of Goods Sold represents a functional expense which explains the purpose of the cost incurred. 5) A single-step income statement shows subtotals for gross profit and operating income.
Which of the following promises ordinarily must be fully executed in writing to be enforceable?
a. promises made between two merchants for the sale of goods b. an agreement between two parties to sell a piece of jewelry for $350 c. a six-month lease on an apartment beginning in 30 days d. a promise made by an executor of an estate to pay a debt of the estate
If a manufacturer wasn't happy with either intensive or exclusive distribution, a logical choice, which incorporates some features from both, would be ________ distribution.
A. evolutionary B. compromise C. selective D. luxury E. moderate
Regarding the interrelationship of federal and state employment laws:
a. state laws must be identical to federal law or the state law is void b. states may pass laws which reduce employee rights, but may not enact laws that expand employee protections granted in federal laws c. states may pass laws which expand employee rights, but may not enact laws that reduce employee protections granted in federal laws d. employment law is exclusively a federal domain, so states may not enact laws when federal law already exists