When a firm's credit standards is relaxed ________
A) its sales is expected to decrease with corresponding increase in costs
B) its costs is expected to decrease with corresponding decrease in sales
C) its costs is expected to increase faster than sales if the standards are not relaxed
D) its profit contribution from sales will be greater than the cost contribution
D
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Jasper makes a $78,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be:
A. Debit Notes Payable $78,000; credit Accounts Payable $78,000. B. Debit Notes Receivable for $78,000; credit Cash $78,000. C. Debit Accounts Receivable $78,000; credit Notes Receivable $78,000. D. Debit Cash $78,000; credit Notes Receivable for $78,000. E. Debit Notes Receivable $78,000; credit Sales $78,000.
What effects occur on a retail store's accounting equation when it records purchase of merchandise on account, assuming the use of a perpetual inventory system?
A) Assets and equity increase. B) Assets and equity decrease. C) Assets and liabilities increase. D) No net effect.
A firm intends to use an online survey questionnaire in a marketing research project. Compared to a mail survey,
A. feedback will likely be faster online. B. costs will likely be lower online. C. respondents will likely be younger and better educated online. D. the response rate will likely be lower online. E. All these answers are correct.
Forum non conveniens is a doctrine used when a court does not have jurisdiction over a particular dispute
Indicate whether the statement is true or false