British entrepreneur Richard Branson has built a global business empire by:
A) relying on brand extension.
B) being the first to use smart cards in major markets.
C) developing local brands.
D) avoiding consumer businesses with established leaders.
E) restricting the "Virgin" name only to airlines.
A
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________ are an example of 100 percent physical goods.
A. Postal services B. Restaurant meals C. Paper towels D. Satellite radio subscriptions
To be enforceable, most states require that a lease must be in writing if it is for a term of more than ________.
A. three months from the date it is made B. six months from the date it is made C. one year from the date it is made D. one month from the date it is made
Crowley Corporation purchased a building on January 2 by signing a long-term $600,000 mortgage with monthly payments of $5,500 . The mortgage carries an interest rate of 10 percent. The entry to record the first monthly payment will be:
a. Mortgage Interest Expense 5,000 Cash 5,000 b. Mortgage Payable 500 Mortgage Interest Expense 5,000 Cash 5,500 c. Cash 5,500 Mortgage Interest Expense 5,500 d. Cash 5,500 Mortgage Payable 5,500
The following are steps to the accounting cycle. Of the following, which step should be done first?
A) Closing entries are journalized and posted to the ledger. B) Transactions are posted to the ledger. C) Adjusting entries are journalized and posted to the ledger. D) Financial statements are prepared.