A "reasonable price":
a. is determined by a formula specified by UCC Article 2 b. is always "fair market value"
c. is never "fair market value" d. is completely arbitrary
e. none of the other choices are correct
e
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A company's five-day weekly payroll of $980 is paid on Fridays. Assume that the last day of the month falls on Wednesday. Which of the following is the required adjusting entry for the month end?
a. Debit Salaries Payable $588 and credit Salaries Expense $588. b. Debit Salaries Expense $588 and credit Salaries Payable $588. c. Debit Unpaid Salaries $588 and credit Salaries Payable $588. d. Debit Salaries Expense $392 and credit Salaries Payable $392.
Selling is a very complex process, but it is easy to do on a consistent basis.
Answer the following statement true (T) or false (F)
A firm is looking to replace its existing manufacturing machine (Machine 1) with a new, more efficient model (Machine 2). Machine 1 can be sold for $1.25 million and has a book value of $975,000. Machine 2 costs $2.5 million delivered, has initial setup cost of $350,000, and would require $200,000 testing expenses. The firm’s tax rate is 32%. Calculate the initial investment needed to replace Machine 1.
What will be an ideal response?
The results of product research conducted within a particular cultural setting
a. can be applied broadly as long as all words are corrected translated. b. has proven suitable for global application by such companies as Disney and Coca Cola. c. can prove inappropriate and cause serious problems when applied on a global scale. d. has proven the constancy of human behavior.