Each month the sales staff of Capital Plumbing Supplies, Inc., makes an average of 125 sales calls on prospective customers at a cost of about $3,500 (salary plus expenses). What is the average cost of a sales call (to the nearest dollar amount)?
A. $22
B. $31
C. $25
D. $28
E. $34
Answer: D
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Current GAAP requires a company to disclose the fair value of its financial instruments and to disclose all significant concentrations of credit risk due to its financial instruments. The FASB's rationale for this disclosure includes allowing readers to
A) better identify major customers. B) compute each company's risk. C) better determine a company's financial flexibility. D) compute liquidity ratios.
A salami fraud affects a large number of victims, but the harm to each appears to be very small
Indicate whether the statement is true or false
Jack, an office supply salesperson, recently called on a customer who was trying to select photos to include in a catalog. The customer wanted to look at the 10 photos side-by-side for comparison, but his easel was too small and the cinderblock walls in the office would not hold tacks or tape. The customer explained that the situation was a regular issue for him. Jack obtained a roll of cork and a can of cork glue to convert an office wall into a giant bulletin board. In this instance, Jack acted as a(n):
A. tactical partner. B. creative problem solver. C. low-involvement decision maker. D. exchange creator. E. transactional partner.
________ occurs when the party knows what he or she is signing but has fraudulently been led into the contract
A) Fraud in the factum B) Fraud in the inducement C) Fraud by concealment D) Misrepresentation of law