Cost of goods sold is equal to
a. the total amount of merchandise purchased during the year.
b. the cost of merchandise purchased plus transportation-in costs less ending inventory.
c. the cost of merchandise purchased plus transportation-in costs plus beginning inventory minus purchase returns and allowances and purchase discounts minus ending inventory.
d. the cost of merchandise purchased plus transportation-in costs plus beginning inventory minus purchase returns and allowances and purchase discounts.
c
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A product life cycle curve is usually ________ shaped
A) L B) bell C) S D) U
Partnerships:
A. are taxed on their operations at the same level as corporations. B. cannot save income tax even if losses are anticipated in the early years of business. C. need to pay privilege taxes to do intrastate business in another state. D. are not required to pay corporate franchise taxes.
In confronting the international problems caused by lack of language training, the MOST useful advice for North Americans is to
a. be glad that English is used so widely for business transactions and not be overly concerned with the need for knowing other languages. b. try to acquire second language skills if possible, or at least learn a few words in the language of your audience. c. expect business representatives of other countries to know English. d. always travel with an interpreter.
The president of a company says that new products to be introduced are sure to double company profits. Based on this, investors buy stock in the company, pushing up its price. The products flop, the company loses money, so the stock price falls. Investors are most likely to sue the president of the company under what theory provided by the securities law?
a. liability for mismanagement b. liability for insider trading c. liability for misstatements d. liability for securities negligence e. none of the other choices; there is no basis for a lawsuit here