Which of the following countries is NOT a part of NAFTA?
A. Russia
B. United States
C. Canada
D. Mexico
A. Russia
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Mary Tappin, an assistant Vice President at Galaxy Toys, was disturbed to find on her desk a memo from her boss, Gary Resnick, to the controller of the company. The memo appears below:GALAXY TOYS INTERNAL MEMOSept 15To: Harry Wilson, ControllerFm: Gary Resnick, Executive Vice PresidentAs you know, we won't start recording many sales until October when stores start accepting shipments from us for the Christmas season. Meanwhile, we are producing flat-out and are building up our finished goods inventories so that we will be ready to ship next month.Unfortunately, we are in a bind right now since it looks like the net income for the quarter ending on Sept 30 is going to be pretty awful. This may get us in trouble with the bank since they always review the quarterly financial reports and may
call in our loan if they don't like what they see. Is there any possibility that we could change the classification of some of our period costs to product costs-such as the rent on the finished goods warehouse?Please let me know as soon as possible. The President is pushing for results.Mary didn't know what to do about the memo. It wasn't intended for her, but its contents were alarming.Required:a. Why has Gary Resnick suggested reclassifying some period costs as product costs?b. Why do you think Mary was alarmed about the memo? What will be an ideal response?
Quantifying the solution can be performed with a cost-benefit analysis or with a(n):
A) frequency analysis B) regression analysis C) feature-benefit presentation D) pricing model E) ROI calculation
Jacobs Company issued bonds with a $300,000 face value on January 1, Year 1. The bonds were issued at 102 and carried a 5-year term to maturity. They had a 9% stated rate of interest that was payable in cash on December 31st of each year. Jacobs uses the straight-line method to amortize bond discounts and premiums. Based on this information alone, how does the recognition of interest expense during Year 1 affect the company's accounting equation?
A. Increase liabilities by $1,200, decrease assets by $25,800, and decrease equity by $27,000 B. Decrease both assets and stockholders' equity by $2,700 C. Decrease equity by $25,800, decrease liabilities by $1,200, and decrease assets by $27,000 D. Decrease both assets and stockholders' equity by $25,800
Which of the following statements is true of personal selling on the Internet?
A. The Internet cannot be detrimental to those involved in personal selling in the business-to-business market. B. The low-cost and high-reach advantages of personal selling are allowing companies to increase new hires to expand their existing sales forces. C. Websites are ineffective in enhancing and supporting the personal selling effort. D. The disadvantage of personal selling on the Internet is that it is time-consuming and it also incurs additional costs. E. Customers can determine if a company's offering satisfies their needs through trial demonstrations or samples offered online.