The first section of the income statement reports cash flows from operating activities.
Answer the following statement true (T) or false (F)
False
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Rona Spiegle sold fruit baskets at a farmer's market. She purchased 35 wicker baskets for a total of $152.25, 185 yards of cellophane for $.07 per yard, and $172.50 of assorted fruit. a.What was Rona's cost per basket?b.What was Rona's profit if she sold all the baskets at $19.99 each?
What will be an ideal response?
Which of the following efforts is used by progressive marketers to improve the quality of the prospecting process?
A) Shorten the sales cycle by quickly determining which new prospects are qualified. B) Reduce the number of prospects who board the "Ferris wheel." C) Avoid the temptation of developing quality standards, which disrupts the prospect flow. D) Increase the use of telemarketing efforts to identify likely prospects. E) Make more cold calls to increase the volume and quality of prospects in the pipeline.
The result of an inventory stockout usually results in
A. an increase in inventory costs. B. an increase in lost sales. C. an increase in net profit. D. an increase in loyal customers. E. a decrease in prices.
On a bank reconciliation, an unrecorded debit memorandum for printing checks is:
A. Noted as a memorandum only. B. Added to the bank balance of cash. C. Added to the book balance of cash. D. Deducted from the bank balance of cash. E. Deducted from the book balance of cash.