The efficiency variance measures ________.
A) the difference between the quantity used by the company and the quantity used by its competitors
B) the change in quantities used over time
C) how well the business uses its materials or human resources
D) how quickly direct materials are processed into finished goods
C) how well the business uses its materials or human resources
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A merchandiser returned inventory worth $1,900 that was purchased on account. In a periodic inventory system, the journal entry to record the return would include ________.
A) a debit to Purchase Returns and Allowances for $1,900 and a credit to Accounts Payable for $1,900 B) a debit to Accounts Payable for $1,900 and a $1,900 credit to Purchase Returns and Allowances C) a debit to Purchases for $1,900 and a credit to Accounts Payable for $1,900 D) a debit to Accounts Payable for $1,900 and a credit to Purchases for $1,900
Under the periodic inventory system, which of the following amounts will always stay the same regardless of the inventory valuation method used?
A) ending merchandise inventory B) cost of goods sold C) gross profit D) net purchases
In Sid's Surf Shop, there is a 10-foot-long surf board on legs with swimwear on it near the entrance to the department where surfing merchandise is sold. The surfboard attracts many customers into that department. This is an example of a(n)
A. bulk fixture. B. freestanding display. C. cash wrap. D. gondola display. E. end cap.
ADIE stands for ______.
a. acquire, develop, instruct, and engage b. acquaint, delegate, improve, and empower c. allocate, determine, inspire, and elevate d. assess, design, implement, and evaluate