Forester, a jewelry store, has developed a sustainable competitive advantage. Which of the following characteristics of Forester is most likely to be the reason for this advantage?
A. Repeat purchases from a vendor due to limited alternatives
B. More merchandise
C. Knowledgeable and helpful salespeople
D. Higher advertising budgets
E. Automated warehouses
Answer: C
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When a firm attempting to create unique products or services for particular market niches, in order to achieve relatively high profit margins, this is best known as
a. A quality strategy b. A low-cost leadership strategy c. A vertical integration strategy d. A product differentiation strategy
Leonardo's accountant told him about contribution margin ratios, and Leonardo understood clearly that for every dollar of sales, $0.60 went to cover his fixed costs, and anything above that point was profit. What is the amount of revenue Leonardo should earn each month to break even? (Round your answer to the nearest dollar.)
Leonardo was a professional classical guitarist until a motorcycle accident left him disabled. After long
months of therapy, he hired an experienced luthier and started a small shop to make and sell Spanish
guitars. The guitars sell for $700, and the fixed monthly operating costs are as follows:
A) $8430
B) $5620
C) $4833
D) $4287
Those who lend money or deliver goods and services before being paid are called
A) investors. B) debtors. C) underwriters. D) creditors.
Mohr Company purchases a machine at the beginning of the year at a cost of $24,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 5 years with a $4,000 salvage value. Depreciation expense in year 2 is:
A. $9,600. B. $20,000. C. $0. D. $4,800. E. $4,000.