The growth rate of output and employment in a country started declining after rising sharply for three years. In which stage of the business cycle is the country currently operating?
A. Peak
B. ?Trough
C. ?Expansion
D. ?Depression
Answer: A
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Which of the following procedures would the auditor perform in testing the completeness assertion for accounts payable?
a. Examine a sample of cash disbursements made after year end to determine whether the disbursements were for goods applicable to the previous year. b. Reconcile vendor's statements with the accounts receivable trial balance. c. Examine production equipment for useful lives. d. Gather purchase orders immediately previous to and subsequent to year-end.
What is most likely the first major marketing decision that a retailer must take?
A) positioning B) targeting C) segmentation D) differentiation E) promoting
After looking at the ads in her Sunday paper, Ruby decided to visit a local nursery and buy potting soil at $1.99 a bag. The regular price is $4.99 a bag. While Ruby was there she also purchased three bushes, six flowering plants, and a bird bath
You can infer from this information that the nursery used the bags of potting soil as a ________. A) loss leader B) freemium C) bait-and-switch D) price line E) reference price
If the difference between overhead applied and actual overhead is insignificant, it is usually written off to
A) Cost of Goods Sold. B) Work in Process Inventory. C) Finished Goods Inventory. D) Materials Inventory.