Henderson Sales purchased $6,000 of inventory on account. Provide the journal entry. (Assume a perpetual inventory system.)
What will be an ideal response
Merchandise Inventory 6,000
Accounts Payable 6,000
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Demand-backward pricing
A. is an average-cost pricing approach. B. starts with an acceptable final consumer price and works backward to what producers can charge. C. ignores demand estimates. D. is only sensible when the channel captain is a large retailer. E. None of these answers is correct.
Which of the following statements is true of mitigation of damages?
A) The breaching party must make efforts to mitigate damages resulting from the breach of contract. B) If an employer breaches an employment contract, he or she owes a duty to mitigate damages by trying to find substitute employment for the employee. C) The extent of mitigation of damages required is common to all kinds of contracts. D) If an employer breaches a contract, the employee is only required to accept comparable employment.
The legal contract setting forth the terms and provisions of a corporate bond is a(n) ________
A) indenture B) debenture C) loan document D) promissory note
Which strategy applies to investors who fund long-term goals with high-quality stocks which they retain for the entire investment period?
A) quality long-term growth B) buy and hold C) speculation D) current income