Which of the following appears as a line item in a contribution margin income statement?
A) Gross profit
B) Total cost of goods sold
C) Operating income
D) Total selling and administrative expenses
C) Operating income
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In a partially disclosed agency, the contracting third party transacts directly with the principal and does not know the identity of the agent
Indicate whether the statement is true or false
A firm estimates that it will receive cash flows from a new product of $1,000 in Year 1, $800 in Year 2, and $700 in Year 3. If a discount rate of 9% is assumed, into what range below will the NPV be?
a. Less than $2500 b. Between $2500 and $2800 c. Between $2800 and $3100 d. More than $3100
You engage in a short sale when you
A) sell shares of stock you do not own. B) sell a put. C) sell options on a stock for future sale. D) sell stock to cover a margin call.
Office Supplies, Inc. uses a perpetual inventory system. Journalize the following sales transactions for this company. Explanations are not required
July 3 Sold $15,400 of merchandise on account, credit terms are 2/10, n/30 Cost of goods is $9,300. July 7 Received a $750 sales return from the customer. Cost of the goods is $435. July 12 Office Supplies receives payment for the customer for the amount due from the July 3 sale. What will be an ideal response