Target, Sears, and Macys are click-and-mortar businesses selling in a multichannel business model

Indicate whether the statement is true or false


TRUE

Business

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Under the periodic inventory system, which of the following statements is correct?

A) During the period, the business records the cost of all inventory bought in the Merchandise Inventory account. B) Purchase Returns and Allowances and Purchase Discounts are contra expense accounts. C) Freight in is debited to the Purchases account. D) Purchase discounts are recorded as credits to the Purchases account.

Business

Which of the following is a counterbalancing error?

A) understated depletion expense B) bond premium under-amortized C) prepaid expense adjusted incorrectly D) overstated depreciation expenses

Business

Day-to-day transactions are stored in the operational database

Indicate whether the statement is true or false

Business

In a SWOT analysis, increasing gasoline prices would represent a potential ________ for manufacturers of electric cars.

A. marketing mix B. internal weakness C. operational advantage D. external threat E. external opportunity

Business