A business corporation is not an
A. entity created by law.
B. organization that can exist perpetually.
C. organization with certain rights and powers granted by statute.
D. entity that is disregarded for income tax purposes.
D. entity that is disregarded for income tax purposes.
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Answer the following statements true (T) or false (F)
1. The terms unit contribution and contribution margin are used interchangeably. 2. Contribution margin ratio is the ratio of contribution margin to net income. 3. Because contribution margin is based on sales price and variable costs, the contribution margin ratio can be calculated using either the total amounts or the unit amounts. 4. A contribution margin income statement classifies costs by function; that is, costs are classified as either product costs or period costs. 5. Contribution margin is the amount that contributes to covering the fixed costs and then to providing operating income.
Narrative 11-1Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Refer to Narrative 11-1. Leonora wants to have $18,000 in 1 year. Calculate how much she should invest now at 10% interest, compounded semiannually in order to reach this goal.
A. $14,700.00 B. $15,725.00 C. $16,326.54 D. $17,800.20
Horizontal retail audits focus on single elements of strategy and not the interrelationships among elements
Indicate whether the statement is true or false
A greater cultural distance between two trading countries
A. reduces the transaction costs associated with business. B. reduces the uncertainty of doing business. C. increases the liability of foreignness. D. increases linguistic similarities between the two countries.