Allowance for Doubtful Accounts has a debit balance of $500 at the end of the year (before adjustment), and uncollectible accounts expense is estimated at 4% of net sales. If net sales are $600,000, the amount of the adjusting entry to record the provision for doubtful accounts is
A) $24,500
B) $23,500
C) $24,000
D) none of the above
C
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Which of the following statements is true of global trade patterns?
A) The annual rate of output is less than the total merchandise trade. B) In most countries, the share of trade as a percentage of the national economy has reduced. C) Import and export growth has outpaced the rate of increase in GNP. D) The share of agriculture in exports has increased over the past decade.
Mary is writing detailed organizational policies for a nonprofit organization. Mary is practicing ______.
A. bureaucracy B. dependency C. experimentation D. closed systems theory
As a part of IMC, marketers do which of the following?
A) use only one or two elements of the promotion mix at a time B) identify what information customers want and how, when, and where they want it C) focus on one-to-one marketing to the exclusion of mass marketing D) focus on increasing profit margins rather than lifetime value of a customer E) produce promotions in-house instead of using outside agencies
The evolution of the conventional supermarket into combination stores and supercenters can be explained by which retail concept?
a. scrambled merchandising b. Huff's law c. rationalized retailing d. the wheel of retailing