Use the following financial information to find the entry you would make on an income statement for GROSS MARGIN for the year ended December 31, 2011: Gross Sales, $241,000; Sales Returns and Allowances, $7,500; Sales Discounts, $7,800; Merchandise Inventory, January 1, 2011, $45,200; Merchandise Inventory, December 31, 2011, $71,300; Net Purchases, $91,900; Freight In, $1950; Salaries, $97,000;
Rent, $30,600; Utilities, $2,500; Insurance, $2,450; and Income Tax, $19,350.
A) $206,500
B) $157,950
C) $138,800
D) $107,700
B
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Which of the following statements is true regarding the affordable method for setting a promotion budget?
A) It is mostly used by large businesses. B) It completely ignores the effects of promotion on sales. C) It tends to place promotion first among spending priorities. D) It leads to a certain annual promotion budget. E) It almost always results in overspending.
Aristotle urged speakers to express "goodwill" toward their audiences. What does this mean?
What will be an ideal response?
Answer the following statements true (T) or false (F)
1. Ninety percent of all U.S. businesses use some form of group structure. 2. In coordination meetings, project teams keep each other informed of their progress and plan at each stage of their joint efforts. 3. One advantage of a group meeting is it increases the chance of communication problems, which is healthy because it creates a better line of communication down the road for group members. 4. Coch and French found that participation in meetings decreased a feeling of ownership of the outcome.
Stephan, Inc Stephan, Inc has an inventory turnover rate of 8 times. Refer to the information provided for Stephan, Inc Calculate the company's days-in-inventory ratio
A) 365 days B) 150 days C) 120.75 days D) 45.625 days