When applying the retail method, which of the following would not be a component of the cost-to-retail percentage?
a. Purchases
b. Beginning inventory
c. Sales
d. Freight-in
C
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In business environments with this type of communication culture, there is less emphasis on interpersonal relationships and more on the individual.
a. Social context b. Low-context c. Euphemism context d. High-context
A novation is
A) an assignment B) a new contract C) a new party added to an existing contract D) an exception to the privity rule E) a new term added to a contract
The process of checking and testing products to ensure that they meet specifications is called
A. inventory control. B. quality control. C. quality inspection. D. assurance. E. check pointing.
Nicholas is the driver for a company executive. He is paid $13.50 per hour for his services and overtime only for hours worked in excess of 40 hours per week. His actual driving time varies, depending on the needs of the executive. Which of the following is true about Nicholas's compensation?
A) Nicholas must maintain a log of miles driven to document his activities. B) Nicholas will be compensated only for the hours during which he is driving. C) Nicholas will receive compensation for wait time when it is for the firm's benefit. D) Nicholas will not receive compensation for idle times when is waits for the executive to conduct business.