Which of the following does not represent a sale?
a. Merchandise placed aside for a customer who plans to come in next week and pay with cash
b. Purchase of merchandise by a customer who pays cash
c. Sale of merchandise to a customer who uses a credit card
d. Purchase of merchandise by a customer who uses a debit card
A
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On March 1, Bartholomew Company purchased a new stamping machine with a list price of $85,000. The company paid cash for the machine; therefore, it was allowed a 5% discount. Other costs associated with the machine were: transportation costs, $2800; sales tax paid, $6120; installation costs, $1750; routine maintenance during the first month of operation, $2700. What is the cost of the machine?
A. $94,120 B. $91,420 C. $80,750 D. $89,670
In a process costing system, a department's total production costs incurred in a particular period must equal the total costs transferred out of the department
Indicate whether the statement is true or false
A few years ago Bernice purchased some medication through her veterinarian for her aging pet iguana, Scales, who had a skin disease. Scales died a few months after beginning the medication. At the time of the death, Bernice thought that Scales had died of natural causes. She just read in the newspaper, however, that a number of reptilian type animals had been harmed by the drug Scales ingested
Bernice immediately talked to her veterinarian who told her that while she now believes the medication was harmful to Scales, it was manufactured by a number of different manufacturers, and there is no way to determine the exact manufacturer of the medication given to Scales. Which of the following is Bernice's best chance at recovery? a. Market-share liability b. Joint and several liability c. Product-line theory d. Continuity theory
If insurers didn't practice pooling, what would happen?
A) They would save a lot of time and money by not having to do difficult calculations. B) They would make a handsome profit since they would get to sell a lot of insurance to a lot of people. C) The insurance mechanism would become unfeasible. D) The insurance mechanism would become the largest money-making venture in the United States.