The physical distribution concept is based on the idea that selecting the lowest-cost transporting alternative and the lowest-cost storing alternative will result in the lowest total distribution cost.
Answer the following statement true (T) or false (F)
False
The physical distribution (PD) concept says that all transporting, storing, and product-handling activities of a business and a whole channel system should be coordinated as one system that seeks to minimize the cost of distribution for a given customer service level.
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When a sample of sales transactions recorded in the sales journal is traced back to the customer orders and shipping documents, the auditor is testing the ________ assertion.
A. cutoff B. occurrence C. completeness D. authorization and accuracy
One of the criticisms of marketing research is that there is a lack of creativity
Indicate whether the statement is true or false
Chase Company rents space to a tenant for $3100 per month. The tenant currently owes rent for November and December. The tenant has agreed to pay the November, December, and January rents in full on January 15 and has agreed not to fall behind again. The adjusting entry needed on December 31 is:
A. Debit Rent Receivable, $6200; credit Rent Earned, $6200. B. Debit Rent Receivable, $9300; credit Rent Earned, $9300. C. Debit Unearned Rent, $6200; credit Rent Earned, $6200. D. Debit Rent Receivable, $3100; credit Rent Earned, $3100. E. Debit Unearned Rent, $3100; credit Rent Earned, $3100.
If partnership debt is reduced and a partner is deemed to receive a cash distribution, what impact does the deemed distribution have on the partner if it is in excess of her tax basis?
A. The partner will not ever be taxed on the distribution in excess of her basis. B. The partner will treat the distribution in excess of her basis as ordinary income. C. The partner will not be taxed on the distribution in excess of her basis until she sells her partnership interest. D. The partner will treat the distribution in excess of her basis as capital gain.