Which of the following statements is true of department stores?
A. They can be categorized into two tiers.
B. They offer a limited variety and shallow assortment of merchandise.
C. They often resemble a collection of specialty shops.
D. They are usually located in local neighborhoods rather than large regional malls.
E. They focus almost exclusively on hard goods.
Answer: C
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Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the application of factory overhead to production is:
A. Debit Work in Process Inventory $225,000; credit Factory Overhead $225,000. B. Debit Work in Process Inventory $165,000; credit Factory Overhead $165,000. C. Debit Work in Process Inventory $165,000; credit Factory Payroll $165,000. D. Debit Factory Overhead $165,000; credit Work in Process Inventory $165,000. E. Debit Factory Payroll $150,000; credit Work in Process Inventory $150,000.
Companies in the same industry are required to use the same methods to value inventory and to depreciate similar assets
Indicate whether the statement is true or false
To pay for a minor repair, May writes a check for $50 to David, who indorses the check in blank and gives it to his sister, Glenda, for her birthday. She indorses the check in blank and gives it to her trash collector to pay her quarterly bill. Which of the following is correct?
a. David made transfer warranties to Glenda and to her trash collector. b. David did not make transfer warranties to Glenda because Glenda gave no consideration for the transfer of the check to her. c. Neither David nor Glenda made any transfer warranties because they indorsed the check with blank indorsements, making the check bearer paper. d. The trash collector must wait until the check is dishonored before making a transfer warranty claim against Glenda.
Assume that a $50 strike call has a 3.0% continuous dividend, ? = 0.27, r = 0.06 and 60 days from expiration. What is the gamma for a stock price movement from $48.00 to $49.00?
A) 0.046 B) 0.074 C) 0.089 D) 0.099