Which of the following accounts is not closed at the end of the accounting period?
A. Sales
B. Purchase Discounts
C. Depreciation Expense
D. Capital
Answer: D
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The price of a bag of chips is $1, but a customer is willing to pay up to $3. What would be the consumer surplus on this purchase?
a. $3 b. $1 c. $2 d. $4
In segmenting its markets, an aluminum company first looked at which end-use market to serve: automobile, residential, or beverage containers. This is an example of ________
A) macrosegmentation B) microsegmentation C) geographic segmentation D) global segmentation E) short-term segmentation
Knollwood Corporation issued $286,000 of 30-year, 8 percent bonds at 106 on one of its semiannual interest dates. The straight-line method of amortization is to be used. The entry to record the bond interest expense on the next interest payment date is:
A) Bond Interest Expense 11,440 Cash 11,440 B) Bond Interest Expense 11,726 Cash 11,726 C) Bond Interest Expense 10,840 Cash 10,840 D) Bond Interest Expense 11,154 Unamortized Bond Premium 286Cash 11,440
The “economic man” argument suggests that:
A) People consider all available alternatives and then make choices that maximize the values they receive B) People pick the cheapest options wherever available C) People pick the most expensive option provided it offers added value D) People rarely consider the benefits of picking a more expensive option before selecting the most economic one