________ are private-label products produced by the retailer that imitate the national brand in both appearance and packaging, but are often offered at a lower price.
A. Exclusive brands
B. Copycat brands
C. Generic brands
D. Licensed brands
E. Premium brands
Answer: B
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Alex brought his lunch today but now a co-worker has asked him to go to the deli across the street. Select the correct statement from the following.
A. The cost of the lunch Alex already has represents the opportunity cost of dining with his friend. B. The cost of the lunch Alex had brought is relevant to Alex's decision to have lunch with his friend. C. The cost to buy lunch at the deli is not relevant because it has not yet been incurred. D. The cost of the lunch that Alex had brought has nothing to do with his current decision.
Answer the following statements true (T) or false (F)
According to APB Statement 4, basic accounting terminology is defined by whatever is being done in practice.
Firms account for leases using either the operating lease method or the capital (finance) lease method. Which of the following is not true?
a. The operating lease method treats leases as executory contracts. b. The operating lease method recognizes a leased asset on the lessee's balance sheet. c. The operating lease method does not recognize a lease liability on the lessee's balance sheet. d. The lessor recognizes rent revenue as the lessee uses the leased asset over time. e. The lessee recognizes rent expense as the lessee uses the leased asset over time.
________ is a rule which provides that an action for breach of any written or oral sales or lease contract must commence within four years after the cause of action accrues
A) Perfect tender rule B) Specific performance decree C) Replevin D) Statute of limitations