Answer the following statements true (T) or false (F)
1. A business suit may not be the appropriate attire for an evening of entertainment in
some societies.
2. If a business guest is unfamiliar with a nation’s delicacies, it is appropriate to refuse
to try them.
3. Normal gift-giving practices in some countries are considered unethical in others.
4. In a high context culture, people look for meaning in what is not said.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
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When applying lower of cost or market under the LIFO or retail inventory method, market value should not be less than
A) ?replacement value. B) ?net realizable value. C) ?net realizable value less an allowance for a normal profit margin. D) ?replacement value less an allowance for a normal profit margin.
How does the marketing environment determine the position of the market demand function?
What will be an ideal response?
The time period assumption assumes that an organization's activities may be divided into specific reporting time periods including all of the following except:
A. Months. B. Days. C. Calendar years. D. Fiscal years. E. Quarters.
The cost of merchandise sold during the year was $45,000. Merchandise inventories were $13,500 and $10,500 at the beginning and end of the year, respectively. Accounts payable were $7,000 and $5,000 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total
A) $46,000 B) $44,000 C) $50,000 D) $40,000